Robin Construction Company began a long-term contract in 2014. The contract price was $800,000. The estimated cost of the contract at the time it was begun was $500,000. The actual cost incurred in 2014 was $350,000. The contract was completed in 2015 and the cost incurred that year was $125,000. Under the completed contract method:

Robin should report $210,000 of income in 2014.

Robin should report $150,000 of income in 2014.

Robin should report $90,000 of income in 2014.

Robin is not required to report any income in 2014.