14. Carter Builders uses the percentage-of-completion method of accounting for its corstruction contracts. They estimated the total cost of completing job $129 as being 5500,000 , and actually incurred costs of $100,000 in 2001 and $400,000 in 2002 . The total contract price for the job Was $600,000. Carter's 2001 income statement should show a gross profin from this job of a. 580,000 b. $20,000 C. 325,000 . d. $100,000