q12,13

Please use the following intormation to answer Question 12 and 13. Paytine Corp ban apred to construct a new playground for Surrey County for $2,450,000. Construction del the oee plangand will begin in January 2012 and is expected to be completed in Decenter 2013 . N te iging of the contract, Playtime Corp. estimates that it will cort $1800,090 to bald the piavpound. ka te end of 2012 Playtime provided the following information about the proect Date Costsincurred to date Estimated costs remaining Carhaleated bo dits Dec.2012$900,000$900,000 If Playtime uses the percentage of completion to recogrize revenue on the long sum cortrat tion much gross profit should Playtime recognize in 2012? 2012? 433.500 40 9767050 31.150,000