Question: If Pell used the completed contract method, what amount of gross profit (loss) would Pell report in its 2011 income statement? a. $ (20,000) b.

If Pell used the completed contract method, what amount of gross profit (loss) would Pell report in its 2011 income statement?

a. $ (20,000)

b. $ 0

c. $ 340,000

d. $ 420,000

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