Smile Operators Entered into a Contract to Build a Swimming

Smile Operators entered into a contract to build a swimming complex for $1,800,000. Construction commenced on July 1, 2020, with a planned completion date of December 31, 2022. A summary of the related accounting information is provided below: $$\begin{array} { | l | r | r | r | } \hline & \mathbf { 2 0 2 0 } & \mathbf { 2 0 2 1 } & \mathbf { 2 0 2 2 } \\\hline \text { Costs incurred during the year } & 400,000 & 500,000 & 650,000 \\\hline \text { Estimated costs to complete at year end } & 1,200,000 & 600,000 & 0 \\\hline \text { Billings during the year } & 360,000 & 440,000 & 1,000,000 \\\hline \text { Cash collections during the year } & 300,000 & 410,000 & 1,090,000 \\\hline\end{array}$$ How much gross profit would be recognized in 2021 if the company uses the completed contract method under ASPE?

A) $0
B) $120,000
C) $220,000
D) $250,000