Use the following information for questions 80 and 81.
-Horner Construction Co. uses the percentage-of-completion method. In 2014, Horner began work on a contract for $16,500,000; it was completed in 2015. The following cost data pertain to this contract: The amount of gross profit to be recognized on the income statement for the year ended December 31, 2015 is
A) $2,400,000.
B) $2,580,000.
C) $2,700,000.
D) $6,450,000.

Question

Use the following information for questions 80 and 81.
-Horner Construction Co. uses the percentage-of-completion method. In 2014, Horner began work on a contract for $16,500,000; it was completed in 2015. The following cost data pertain to this contract:  The amount of gross profit to be recognized on the income statement for the year ended December 31, 2015 is
A) $2,400,000. 
B) $2,580,000. 
C) $2,700,000. 
D) $6,450,000.

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The Answer of Use the following information for questions 80 and 81.
-Horner Construction Co. uses the percentage-of-completion method. In 2014, Horner began work on a contract for $16,500,000; it was completed in 2015. The following cost data pertain to this contract:  The amount of gross profit to be recognized on the income statement for the year ended December 31, 2015 is
A) $2,400,000. 
B) $2,580,000. 
C) $2,700,000. 
D) $6,450,000.

Use the Following Information for Questions 80 and 81