Horner Construction Co. uses the completed-contract method of accounting. In 2016, Horner began work on a contract for $5,500,000; it was completed in 2017. The following cost data pertain to this contract: Year Ended December 31 2016 2017 Cost incurred during the year $1,950,000 $1,400,000 Estimated costs to complete at the end of year 1,300,000 The amount of gross profit to be recognized for years 2016 and 2017 would be 2016: $2,250,000; 2017: $0 2016: $2,150,000; 2017: $(100,000) 2016: $0; 2017: $2,150,000 2016: $0; 2017: $2,250,000