Oriole Company follows IFRS and sells consumer-relationship software to Blue Spruce Inc. to be used for three years. In addition to providing the software, Oriole promises to provide consulting services over the life of the contract to maintain operability within Blue Spruce' computer system. The total transaction price is $243,000. Based on stand-alone values, Oriole estimates the consulting services have a value of $81,000 and the software has a value of $162,000. On installation of the software on July 1, 2023, Blue Spruce pays $106,200, the contract balance is due on December 31, 2023.

Identify the performance obligations and the revenue in 2023, assuming the performance obligations are interdependent.