JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,365,000. JRE2 recognizes revenue upon contract completion 2020 2021 2022 cost incurred $ 272,000 1,710,000 560,000 Estimated cost to Complete $1,660,000 610,000 0 In 2021, JRE2 would report gross profit (loss) of: In 2021, JRE2 would report gross profit (loss) of: 37:58 Multiple Choice O $(227,000) $(277,000). $0. $(404,000)