Part 2 - Revenue from Multiple Performance Obligations (20 points) Igloo Windows manufactures and sells custom storm windows. Igloo also provides installation service for the wind ows. The installation process does not involve changes in the windows, so this service can be provided by other vendors. lgloo enters into the following contract on June 1, 2018, with a local homeowner. The local homeowner purchases windows for a price of $3,500 and chooses Igloo to do the installation. lgloo charges the same price for the windows irrespective of whether it does the installation or not. Th e price of the installation service is estimated to have a fair value of $900. The local homeowner pays Igloo $3,000 (which equals the fair value of the windows, which have a cost of $1,700) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on August 1, 2018. Igloo completes installation on September 15, 2018, and the local homeowner pays the balance due. Required: 1) Identify the performance obligations of Igloo Windows with respect to the local homeowner. Include the fair value measure of each performance obligation 2) Prepare a revenue allocation schedule for each performance obligation identified in (1) above. 3) Prepare all the journal entries for Igloo in 2018. (Round amounts to nearest dollar.)