Gomez, Inc. began work in 2012 on contract #3814, which provided for a contract price of $9, 600,000. Other details follow: Assume that Gomez uses the percentage-of-completion method of accounting. The portion of the total gross profit to be recognized as income in 2012 is a. $600,000. b. $800,000. c. $2, 400,000. d. $3, 200,000. Assume that Gomez uses the completed-contract method of accounting. The portion of the total gross profit to be recognized as income in 2013 is a. $1, 200,000. b. $1, 800,000. c. $3, 100,000. d. $9, 600,000. Hayes Construction Corporation contracted to construct a building for $3,000,000. Construction began in 2012 and was completed in 2013. Data relating to the contract are summarized below: Hayes uses the percentage-of-completion method as the basis for income recognition. For the years ended December 31, 2012, and 2013, respectively, Hayes should report gross profit of a. $540,000 and $360,000. b. $1, 600,000 and $1, 200,000. c. $600,000 and $300,000. d. $0 and $900,000