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Concord Ltd. began work in 2023 on a contract for ( $ 968000 ). Other details follow: Assume that Concord uses the percentage-of-completion method of

image text in transcribed Concord Ltd. began work in 2023 on a contract for \\( \\$ 968000 \\). Other details follow: Assume that Concord uses the percentage-of-completion method of accounting. The portion of the total gross profit to be recognized in 2023 is \\( \\$ 59575 \\). \\( \\$ 242000 \\). \\( \\$ 322875 \\). \\( \\$ 80875 \\)

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