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In 2017, Digress Construction Co. began work on a contract for 516,500,000, it was completed...

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Accounting

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In 2017, Digress Construction Co. began work on a contract for 516,500,000, it was completed in 2018. The following cost data pertain to this contract Year Ended December 31 _2017 2018 Cost incurred during the year $5,850,000 $4,200,000 Estimated costs to complete at the end of year 3.900.000 Asuming the performance obligation is satisfied over time, what is the amount of gross profit to be recomized on the income statement for the year ended December 31, 2018? Select one $4,050.000 Ob 56,450,000 52.695.000 a $2,400,000

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