Haven Corp. contracted to construct a building for $750,000. Construction began in 2020 and was completed in 2021. Data relating to the contract follow:

		Year Ended December 31
		2020		2021
Costs incurred		$300,000		$230,000
Estimated costs to complete		$200,000

Haven uses the percentage-of-completion method. For the calendar years 2020 and 2021, respectively, Haven should report gross profit of

$150,000 and $70,000.

$0 and $220,000.

$135,000 and $85,000.

$450,000 and $300,000.