Jonathan Byerly owns a construction business. His company reports income on the percentage of completion method. He currently has one contact that he's working on. A client is paying him $220 million to build a shopping center. The estimated costs are $144 million. (a) Please help Jonathan determine how much income he needs to report and how much of his costs he can deduct, using the following table. (b) Will the IRS owe interest to Jonathan due to over-reporting of revenue in 2020 ? Or will Jonathan owe the IRS interest due to under-reporting of revenue in 2020? Please circle the appropriate answer. IRS owes interest to Jonathan Jonathan owes interest to the IRS