XYZ Constructions began operation in 2018. Construction activities for the first year is shown below. All contract are with different customers, and any work remaining at December 31, 2018 is expected to be completed in 2019. XYZ uses the cost-to-cost percentage of completion in accounting for its projects.

Project	Contract price	Billings to date	Collections to date	Actual costs to date	Additional cost to complete
One	560,000	360,000	340,000	450,000	130,000
Two	670,000	220,000	210,000	126,000	504,000
Three	520,000	500,000	440,000	330,000
Totals	1,750,000	1,080,000	990,000	906,000	634,000

Assume that XYZ uses the cost recovery method instead, calculate the aggregate net profit recognized in the 2018 income statement for these projects.