Casio Co recognites construction revenue and expenses using the percentage of completion method. During 2022. a single long-term project was begun which continued through 2024. Information on the project follows: 2022 2023 12/31 Accounts Receivable balance $100,000 $300,000 Construction expenses for year 105,000 192,000 12/31 CIP balance 122,000 420,000 Billings during year 100,000 364,000 Profit recognized from the long-term construction contract in 2023 was. Select one O a $50.000 O5211000 Oc$123.000 Od 5105000 O $64.000