In early 2014, Beertender Company entered into a long term contract to construct a bridge for Notsosober County for $10 million.The bridge will take three years to complete.In 2014, Beertender spent $2.8 million on the project, recognized $3.5 million in revenue and $.7 million in profit.In 2015, Beertender spent $4.2 million on the project, recognized $3.8 million in revenue and a $0.4 million loss.Beertender billed Notsosober $3.0 million in 2014 and $4.5 million in 2015.Notsosober paid Beertender $2.6 million in 2014 and $4.3 million in 2015.Beertender Company uses the percentage of completion method to account for all contracts.

___B__ 10.When preparing its December 31, 2014 balance sheet, Beertender would report the following with regards to this contract:

A)Current Assets of $3.9 million, and Current Liabilities of $3.0 million.

B)Current Assets of $6.5 million, and no Current Liabilities.

C)Current Assets of $3.9 million, and no Current Liabilities.

D)Current Assets of $0.9 million, and no Current Liabilities.

_____ 11.When preparing its December 31, 2015 balance sheet, Beertender would report the following with regards to this contract:

A)Current Assets of $7.9 million, and Current Liabilities of $7.5 million.

B)Current Assets of $0.6 million, and Current Liabilities of $0.2 million.

C)Current Assets of $7.3 million, and Current Liabilities of $7.5 million.

D)Current Assets of $0.4 million, and no Current Liabilities