JRE$2$ Incorporated entered into a contract to install a pipeline for a fixed price of $$2,275,000.$ JRE$2$ recognizes revenue upon contract completion.

Cost incurred Estimated Cost to Complete

$2023$ $ $260,000$ $ $1,600,000$

$20241,650,000550,000$

$2025500,0000$

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

Multiple Choice

$$(320,000).$

$$(235,000).$

$$(185,000).$

$$0.$