Wilco Inc. uses the percentage of completion method to recognize revenues. In 2023, Wilco enters into a $100 million ship building contract with Seminole Seas Corporation. Wilco expects it will take 5 years to complete the new ship. On December 31, 2023, Wilco reports the following regarding the Seminole Seas project: Progress Billings Costs Incurred Collections Est. Remaining Costs Est. Remaining Time O $20,000,000 O $31,250,000 O $100,000,000 O $25,000,000 How much revenue should Wilco recognize on December 31, 2022? Some Other Answer Question 13 O Some Other Answer O $300,000 O $202,500 $20,000,000 O $225,000 $25,000,000 $270,000 $19,750,000 Wilco acquires 7,500 of the 10,000 shares of Seminole Corporation on January 1, 2022, for $750,000. Seminole reports $300,000 of net income in 2022 and paid $30,000 in dividends. What amount of income will Wilco report on this investment (net of noncontrolling interest in income)? $55,000,000 48 months (4 years) 2 pts