Current Attempt in Progress

In $2025,$ Oriole Construction Corp. began construction work under a $3-$year contract. The contract price was $$900,000.$ Oriole uses

the percentage$-$of$-$completion method for financial accounting purposes. The income to be recognized each year is based on the

proportion of cost incurred to total estimated costs for completing the contract. The financial statement presentations relating to this

contract at December $31,2025,$ are shown below.

Income Statement

Income $($before tax$)$ on the contract recognized in $2025$$$20,550$

$($a$)$

How much cash was collected in $2025$ on this contract?

Portion of contract billings collected

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