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For Irews #278-280, use the following information: On January 1. 2015, Brave Construction Corp. began constructing a P2,100,000 contract. The following are relevant information provided by the corporation. Brave euses percentage of completion method For the year ended December 31. 2016, Brave Construction billed its client an additional 55%% of the contract price 2015 2016 2017 Construction in P441,000 Estimated costs to 7 complete Costs incurred 425,250 959,000 575.750 Excess of Construction in Progress over 34.000 current liability 330,750 current Billing: liability 278. How much is the estimated remaining cost in 2015? A. P1.599.750 B. P1.555.000 C. P1.690.000 D. P1.584,000 279. How much is the realized gross profit (loss) in 2016? A. P(45,000) B. P15,750 C. P(60,750) D. P30,000 280. How much is the balance of construction in progress in 2016? A. P1.630.000 B. P2.010.750 C. P1.349.250 D. P1.365,000