JRE$2$ Incorporated entered into a contract to install a pipeline for a fixed price of $$2,320,000.$ JRE$2$ recognizes revenue upon contract completion.

Cost incurred Estimated Cost to Complete

$2023$ $ $266,000$ $ $1,630,000$

$20241,680,000580,000$

$2025530,0000$

In $2024,$ JRE$2$ would report gross profit $($loss$)$ of: