Indiana Co, began a construction project in 2021 with a contract price of $164 million to be received when the project is completed in 2023. During 2021 Indiana incurred $33 milion of costs and estimates an additional $87 million of costs to complete the project. Indiana recognizes revenue over time and for this project recognires revenue over time according to the percentage of the project that has been completed Indiana Multiple Choice 0 Recognized 57700 milion loss on the project in 2021 O Recognized $12.50 million grows profit on the project in 2021 Recognized $33.00 million loss on the project in 2021 Recognized no gross profit or loss on the project in 2021