Question 10 Blossom Construction Company uses the percentage-of-completion method. During 2018, the company entered into a fixed-price contract to construct a building for Sherman Company for $22870000. The following details pertain to the contract: At December 31, 2018 At December 31, 2019 Percentage of completion 20% 55% Estimated total cost of $14065000 $17130000 contract Gross profit recognized to 2120000 3470000 date The amount of construction costs incurred during 2019 was O $6685000. O $3065000. $9421500. O $6608500