The Leverenz Construction Company began work on a $12,000 contract on 1/1/22. Planned completion was in 2024. The Percentage-of- Completion method is used. Given the following: 2022 2023 2024 Costs incurred to date $1,520 $6,500 $12,700 Estimated costs to complete 6,080 6,000 0 Billings to date 3,000 5,800 11,000 Collections to date 2,900 5,500 10,000 2023 Net Income (Loss) is: Select one: O a. $(500) O b. $1,408 Oc. $(260) Od. $380 O e. $(1,380)