The contract price was $1,100,000 and the total estimated cost was $1,000,000. At the end of the first year, the project was 50 percent completed and TOP had billed Shelton Industries for $560,000. It had received payments of $520,000. TOP had incurred costs of $500,000 and made payments of $490,000. What was TOP's gross profit using the cash method of accounting? Available answer options Select only one option A $10,000 B $30,000 C $50,000 D $60,000