VIQUISepon ZUIY Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Taylor Moore buys and sells real estate. On December 31, 2019, her inventory of property included a tract of undeveloped land for which she had paid $980,000. The fair market value of the land was $1,000,000 at that date. How much income should Moore report for 2019 in connection with this land? Income reported in connection with land rev 1 of 2 Next > Og e E Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Madison Building Company signed a contract with a customer on November 1, 2019. The contract called for construction of a building to begin by December 31, 2019, and to be completed by December 31, 2020. The contract price was $10.6 million. Madison estimated that the building would cost $7.6 million. On November 15, 2019, the customer was required to make an advance payment of $1,080,000. No work was done on the project until January 2020. How much income from the project should Madison report in 2019? Show less Income from the project