Review: In 2020, Arendelle Corp. began a three-year, long-term construction project that qualified for revenue recognition over time. Arendelle's customer agreed to pay $600,000. By the end of 2020, Arendelle had spent $50,000 on the project and expected to spend an additional $200,000 over the next two years. Arendelle measures progress toward completion based on costs incurred. How much revenue will Arendelle report on the project in its 2020 income statement? (just enter the number, without any commas or a dollar sign)