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Gorman Construction Co. began operations in 2010. Construction activity for 2010 is shown below. Gorman uses the completed-contract method Billings Through 12/31/10 Collections Through 12/31/10 Contract Contract Price Costs to Est. Cost 12/31/10 tocomplet $3,200,000 $3,150,000 $2,600,000$2.150,000 2 3 3,600,000 ,500,000 3,300,000 1,900,000 1,000,000 1,800,000 820,000 $1,880,000 2,250,000 1,200,000