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She Builders, Inc. has consistently used the percentage of completion method of accounting for construction type contracts. During 2014, She started work on a P9,000,000

She Builders, Inc. has consistently used the percentage of completion method of accounting for construction type contracts. During 2014, She started work on a P9,000,000 fixed price construction contract that was completed in 2016. She's accounting records disclosed the following

December 31

20142015

Cumulative contracts cost incurredP3,900,000P6,300,000

Estimated cost at completion7,800,0008,100,000

How much income would She have recognize on this contract for the year ended December 31, 2015?

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