In 2020, Pop Construction Corp. began work on a contract for $ 3,700,000. Other details follow: Costs incurred during the year....... Estimated costs to complete as of December 31.... Billings during the year.. Collections during the year.... O $2,220,000. O $ 150,000. O $700,000. 2020 $ O $ 420,000. 1,800,000 1,200,000 Pop uses the percentage-of-completion method. For calendar 2020, Pop should report gross profit of 1,650,000 975,000

In 2020, Pop Construction Corp. began work on a contract for $3,700,000. Other details follow: Pop uses the percentage-of-completion method. For calendar 2020, Pop should report gross profit of $2,220,000 $150,000 $700,000. $420.000