Indiana Co began a construction project in 2M6 with a contract price of $164 million to be received when the project is completed m 2018. During 2016. Indiana incurred $32 million cd costs and estimates an additional $83 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: Recognized no gross profit or loss on the project in 2016 Recognized $13.63 million gross profit on the project in 2016 Recognized $8100 million loss on the project in 2016 Recognized $32 00 million loss on the project in 2016