Mickey signs a contract on 30 June 20X3, agreeing to build a bridge for Mouse. Mouse will be in control of the asset throughout the construction process. Fixed contract price $37,000,000 At the beginning of the project, Mickey estimates that total cost to complete $31,000,000 this contract is: Mickey uses the percentage of completion method based on cost inputs to account for its construction contracts. Assume all estimates are reliable. Please round your calculation to nearest whole number. The following information relates only to the construction of this bridge: 20X4 20X5 20X6 Cost for the year 12,400,000 14,900,000 6,700,000 Estimated costs to complete 18,600,000 6,700,000 0 Cash collected during the year 5,000,000 14,000,000 18,000,000 Physical percentage of completion (%) 35 55 100 Which of the following statements are correct? 1) The contract expense for 20X5 is 2) The contract revenue for 20x5 is 14,900,000 17,783,871 14,908,824 3) The contract revenue for 20x5 is 4) The contract profit for 20X5 is 8,824 5) The contract profit for 20X5 is 2,883,871 O a. 1), 2) and 4) O b. 1), 3) and 4) O c. 1), 2) and 5) O d. 1), 3) and 5) O e. 1) and 3)