C Co. reported a retained earnings balance of $370,000 at December 31, 2017. In September 2018, C determined that insurance premiums of $72,000 for the three-year period beginning January 1, 2017, had been paid and fully expensed in 2017. C has a 35% income tax rate. What amount should C report as adjusted beginning retained earnings in its 2018 statement of retained earnings? Required information (The following information applies to the questions displayed below.] Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,850,000. The project was begun in 2017 and completed in 2018. Cost and other data are presented below: Costs incurred during the year Estimated costs to complete Billings during the year Cash collections during the year 2017 2018 $ 435,000 $1,150,000 1,015,000 0 425,000 1,425,000 325,000 1,525,000 Assume that Beavis recognizes revenue upon completion of the project. Required: Compute the amount of gross profit recognized during 2017 and 2018. (Leave no cells blank - be certain to enter "0" wherever required.) Gross Profit 2017 2018 Accorsi & Sons specializes in selling and installing upscale home theater systems. On March 1, 2018, Accorsi sold a premium home theater package that includes a projector, set of surround speakers, and high quality leather seats, along with complete installation service, for $35,000. If sold separately, each of these goods or services would have cost $15,800 (projector), $10,800 (speakers), $10,000 (seats), and $3,400 (installation), respectively. Required: How much of the transaction price would be allocated to the projector, the speakers, the leather seats, and the installation service, assuming that each of these four parts of the contract is a separate performance obligation? (Round the percentage values to 2 decimal places.) Transaction Price Projector Surround speakers Leather seats Installation service