hayes construction corporation contracted to construct a building for $7500000. construction began in 2018 and was completed in 2019.

constructs incurred for the year: 2018: $3000000 2019: $2250000

estimated remaining costs to complete: 2018: $2000000 2019:-

hayes uses the complted contract method as the basis for income recognition. for the years ended december 31, 2018, and 2019, respectively, hayes should report gross profit of

a. 0 and 2250000

b. 45000000 and 3000000

c. 1350000 and 900000

d. 1500000 and 750000