JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,215,000. JRE2 recognizes revenue upon contract completion. Estimated Cost to Cost incurred Complete $1,560,000 2017 $ 252,000 2018 1,610,000 510,000 2019 460,000 0 In 2018, JRE2 would report gross profit (loss) of: Multiple Choice $0. $(207,000). $(264,000). In 2018, JRE2 would report gross profit (loss) of Multiple Choice $0. $(207,000) $(264,000). $(157,000)