Antzona Desert Homes (ADH) constructed a new subdivision during 2020 and 2021 under contract with Cactus Development Co Relevant data are summarized below Contract amount cost: Gross profit: 2020 2021 2020 2821 282e 2021 $ 3,180,000 1,240,000 649,800 860,000 448, een 1,590,000 1,590,000 Contract billings: ADH recognizes revenue upon completion of the contract In its December 31, 2020, balance sheet, ADH would report Multiple Choice O The contractability, bilings in excess of cost of $350,000 The contract asset, deferred profit of $440.000 The contract asset contract amount in excess of billings, of $1,590 000 The contract asset cost and pronts in excess of blings of 5510,000 On November 1, 2021. Taylor signed a one-year contract to provide handyman services on an as-needed basis to King Associates, with the contract to start immediately King agreed to pay Taylor $5.760 for the one-year period. Taylor is confident that King will pay that amount, but payment is not scheduled to occur until 2022. Taylor should recognize revenue in 2021 in the amount of Multiple Choice 55.760 SO o O O $960 O 52.000 Orange Inc offers a count on an extended warranty on its oPhone when the warranty is purchased at the time the oPhone is purchased. The warranty normally has a price of $62. but Orange offers it for $126 when purchased along with an ophone Orange anticipates a 75% chance that a customer will purchase the extended warranty wlong with the phone. Assume Orange sells to t000 Phones with the extended warranty discount offer What is the total stand- alone selling price that Orange would use for the extended warranty discount option for purposes of allocating revenue among the performance obligations in those 1000 ophone contracts? Mut Choice $200 536.000 8 $126.000