H& M land developers obtained a contract with the city of Windhoek to develop 850 hactres of land in Ongos Valley. H & M decided to sub-contract the road construction part of the contract to Giyan Road Runners Ltd (the taxpayer). Owing to covid 19, this was the first and only contract for H&M in 2021. Giyan Ltd's contract was worth a sum of N$3 500 000. The two parties agreed that since business was low, Giyan Ltd would be paid the full contract amount as follows: N$950 000 cash and the balance in form of residential units from the Ongos Valley project. - Required: Discuss with reason, the amounts that would constitute gross income for Giyan Road Runners Ltd