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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 2020

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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 2020 2021 2022 $ 250,000 1,600,000 450,000 Estimated cost to Complete $1,550,000 500,000 0 In 2022, JRE2 would report gross profit (loss) of

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