In 2018, Omega Construction began work on a contract with a price of $850,000 and estimated costs of $595,000. Data for each year of the contract are as follows:

	2018	2019	2020
Costs incurred during the year	$238,000	$319,600	$105,000
Estimated costs to complete	357,000	139,400	-0-
Partial billings	260,000	210,000	380,000
Collections	240,000	200,000	410,000

Assuming the performance obligation is satisfied over time, what would be the gross profit in 2018?

Group of answer choices

$255,000

$425,000

$260,000

$102,000