In 2021, Emmet construction company entered into a contract to construct a road for Santa Teresa County for $8,000,000. The road was completed in 2023. Emmet uses the percentage-of-completion method of accounting for long term construction contracts. Information related to the contract is as follows: 2021 2022 2023 $2,400,000 $2,500,000 $2,080,000 Cost incurred during the year Estimated costs to complete as of $3,600,000 $2,100,000 year end The amount of Gross Profit (loss) to be reported in 2022 would be:|