Multiple Choice Question 104 Crane Construction Company had a contract starting April 2018, to construct a $22800000 building that is expected to be completed in September 2020, at an estimated cost of $20800000. At the end of 2018, the costs to date were $7072000 and the estimated total costs to complete had not changed. The progress billings during 2018 were $360000 and the cash collected during 2018 was 3080000. Crane uses the percentage-of-completion method For the year ended December 31, 2018, Crane would recognize gross profit on the building of: $13728000. $680000. O $0. $620351