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Arizona Desert Homes (ADH) constructed a new subdivision during 2017 and 2018 under contract with Cactus Development Co. Relevant data are summarized below: 3,315, 000

Arizona Desert Homes (ADH) constructed a new subdivision during 2017 and 2018 under contract with Cactus Development Co. Relevant data are summarized below: 3,315, 000 2017 1,270,000 670,000 905,000 470,000 2017 1,657,500 2018 ,657,500 Contract amount Cost: 2018 2017 2018 Gross profit: Contract billings: ADH recognizes revenue upon completion of the contract. In its December 31, 2017, balance sheet, ADH would report

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