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JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,395,000. JRE2 recognizes revenue upon contract completion. Cost incurred Estimated

JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,395,000. JRE2 recognizes revenue upon contract completion.

Cost incurred Estimated Cost to Complete
2017 $ 276,000 $ 1,680,000
2018 1,730,000 630,000
2019 580,000 0

In 2018, JRE2 would report gross profit (loss) of:

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