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Help Save &Exit Submt Arizona Desert Homes (ADH) constructed a new subdivision during 2017 and 2018 under contract with Cactus Development Co. Relevant data are

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Help Save &Exit Submt Arizona Desert Homes (ADH) constructed a new subdivision during 2017 and 2018 under contract with Cactus Development Co. Relevant data are summarized below Contract amount Costi $2,955,000 2017 1,190,000 2018 590,000 Gross profit: 2017 785,000 390,000 Contract billings: 2017 1,477,500 2018 1,477,500 2018 ADH recognizes revenue upon completion of the contract In its December 31, 2017, balance sheet, ADH would report Muliple Choice 8 9

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