Time left 1:22:48 Mikeharmann Time Co. uses the Percentage of Completion Method to report the construction of a new roadway in the city. The following are journal entries prepared over the last three years: DR Contract Assets/Liabilities CR Cash, ADM 2018 1,000,000 2019 1,916,000 2020 1,134,000 1,000,000 1,916,000 1.134,000 DR A/R 900,000 2,400,000 1,200,000 CR Contract Assets/Liabilities 900,000 2,400,000 1,200,000 DR Cash 750,000 1,750,000 2,000,000 CRA/R 750,000 1,750,000 2,000,000 DR Contract Assets/Liabilities 1,125,000 2,115,000 1,260,000 CR Revenues from Long-term Contracts 1,125,000 2,115,000 1,260,000 DR Construction Costs 1,000,000 1916,000 1,134,000 CR Contract Assets/Liabilities 1,000,000 1,916,000 1,134,000 Required: Which statement(s) about Mikeharmann Time Co.'s 2019 financial statement information is/are TRUE? Select ALL that apply. Da. The Contract Assets/Liabilities account suggests that they overbilled their customer at the end of 2019. Ob. The Accounts Receivable balance at the end of 2019 will be $650,000. Oc. Purchases of $2,916,000 will be reported an Expense for the Year Ended 2019 Od. Collection from the customer is higher than its billings. De. Gross profit reported that will be reported in the 2019's Income Statement will be $199,000.