Question: DDJ Construction Co. began operations in 2021. Construction activity for 2021 is shown below. DDJ uses the cost-recovery method. Contract Billings Collections Contract Through

DDJ Construction Co. began operations in 2021. Construction activity for 2021 is

DDJ Construction Co. began operations in 2021. Construction activity for 2021 is shown below. DDJ uses the cost-recovery method. Contract Billings Collections Contract Through Through Price 12/31/21 12/31/21 Estimated Costs to 12/31/21 Costs to Complete 1 $4652300 $4454200 $3900900 $3703100 2 3604200 1801800 1600700 871300 $2031300 3 3100900 1863500 1600700 3100900 1121600 What amount of gross profit should be reported on the income statement for 2021?

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