ors he ibi Smile Operators entered into a contract to build a swimming complex for $1,800,000. Construction commenced on July 1, 2020, with a planned completion date of st December 31, 2022. A summary of the related accounting information is provided below: 2020 2021 2022 Costs incurred during the year $400,000 $500,000 $650,000 Estimated costs to complete at year-end 1.200,000 600,000 0 00 Billings during the year 360,000 440,000 1,000,000 Cash collections during the year 300,000 410,000 1,090,000 che How much gross profit would be recognized in 2021 if the company uses the completed contract method under ASPE? bar th tiz e O A. $120,000 OB. $0 OC. $220,000 OD. $250,000 On 10 th