URE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,425,000. JRE2 recognizes revenue upon contract completion. 2020 2021 2022 Cost incurred $ 280,000 1,750,000 600,000 Estimated Cost to Complete $1,700,000 665,000 . In 2022, JRE2 would report gross profit (loss) of. Multiple Choice 0 $21,667. $65,000 $60,000 $(205,000)