In 2013, KP Building Inc. began work on a four-year construction project (called Cincy One). The contract price is $300 million. KP uses the percentage-of-completion method of accounting. At the end of 2013, the following financial statement information indicates the results to date for Cincy One:

INCOME STATEMENT Gross Profit (before-taxes) recognized in 2013 $22 million BALANCE SHEET Accounts Receivable from construction billings $10 million Construction in progress $66 million Less: Billings on construction ($75 million) Net billings in excess of construction in progress $9 million

Required: Compute the following, placing your answer in the spaces provided and showing supporting computations: Items to compute:

Cash collected by KP on Cincy One during 2013 Actual costs incurred by KP on Cincy One during 2013 At 12/31/2013, the estimated remaining costs to complete Cincy One The percentage of Cincy One that was completed during 2013