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Carla Vista, Inc. began work in 2021 on a contract for $21980000. Other data are as follows: 2021 2022 Costs incurred to date $9420000 $14350000

Carla Vista, Inc. began work in 2021 on a contract for $21980000. Other data are as follows:

2021 2022

Costs incurred to date $9420000 $14350000

Estimated costs to complete 6280000 0

Billings to date 7140000 21700000

Collections to date 5140000 18350000

IfCarla Vistauses the completed-contract method, the gross profit to be recognized in 2022 is

$15260000.

$3815000.

$7630000.

$3350000.

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