OMalley Co. began a construction project in 2020 that will provide it $150 million total revenue. It will be completed in 2022. During 2020, OMalley incurred $36 million of costs and estimates an additional $84 million of costs to complete the project. Using the percentage-of-completion method, compute the amount OMalley Co. should recognize for revenue and gross profit (loss) in 2020. Show your work.