Indiana Co, began a construction project in 2021 with a contract price of $150 million to be received when the project is completed in 2023. During 2021, Indiana incurred $36 million of costs and estimates an additional $84 million of costs to complete the project. Indiana recognizes revenue over time and for this project recognizes revenue over time according to the percentage of the project that has been completed Indiana: Multiple Choice Recognized no gross profit or loss on the project in 2021 Recognized 56 million loss on the project in 2021 Recognized 59 milion gross brofit on the project in 2021