Beesan Co. signed a construction contract with the ministry of health to build a hospital in three years starting 1/1/2018 and finishing 31/12/2020. The contract price is set for 48,000,000 and the overall costs are estimated to be 28,000,000. The contract finished on time.

You have the following information:

	2018	2019	2020
Cumulative Actual costs	7000	21000	28000
Estimated Costs for Completion
Overall Costs	28000	28000	28000
Completion rate
Revenues for each year
Profit for each year
Progress Billing	8000	20000
Cash Collection	4000	18000

Answer the following questions:

The percentage of completion by the end of 2018 is: ABCD

1. 25%
2. 75%
3. 50%
4. 100%

Profit allocated for year 2019 only is (in thousands): ABCD

1. 10,000
2. 5,000
3. 15,000
4. 20,000

Revenue allocated for year 2018 only is (in thousands): ABCD

1. 24,000
2. 12,000
3. 36,000
4. 48,000

Estimated Costs for Completion by the end of 2018 is (in thousands): ABCD

1. 0
2. 7,000
3. 21,000
4. 28,000

The percentage of completion for the year 2019 only is: ABCD

1. 25%
2. 50%
3. 75%
4. 100%

Total Profit for the contract is (in thousands): ABCD

1. 20,000
2. 28,000
3. 48,000
4. 5,000

Cash Collections the year 2020 is (in thousands): ABCD

1. 4,000
2. 18,000
3. 26,000
4. 28,000

Account Receivables balance by end of year 2019 is: ABCD

1. 6,000
2. 28,000
3. 10,000
4. 24,000