JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,290,000. JRE2 recognizes revenue upon contract completion. Cost incurred Estimated Cost to Complete 2017 $ 262,000 $ 1,610,000 2018 1,660,000 560,000 2019 510,000 0 In 2018, JRE2 would report gross profit (loss) of:

Multiple Choice

$0.

$(242,000).

$(192,000).

$(334,000).