JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,200,000 JRE2 recognizes revenue upon contract completion Cost incurred Estimated Cost to Complete 2020 2021 2022 $ 250,000 1,600,000 $1,550,000 500,000 450,000 In 2020, JRE2 would report grounded to the nearest thousand) gross profit (loss) of Mutpie Choice $200,000 500.000 $72.000