State Co. recognizes construction revenue and expenses using the percentage-of-completion method. During 2010, a single long-term project was begun, which continued through 2011. Information on the project follows:

2010 2011 Accounts receivable from construction contract $100,000 $300,000 Construction expenses 105,000 192,000 Construction in progress 122,000 364,000 Partial billings on contract 100,000 420,000 Profit recognized from the long-term construction contract in 2011 should be

a. $ 50,000

b. $108,000

c. $128,000

d. $228,000