Casio Co. recognizes construction revenue and expenses using the percentage-of-completion method. During 2016, a single long-term project was begun, which continued through 2018. Information on the project follows:

2016 2017

12/31 accounts receivable balance $100,000 $300,000

construction expenses for the year 105,000 192,000

12/31 CIP balance 122,000 364,000

billings during the year 100,000 420,000

Profit recognized from the long-term construction contract in 2017 was?