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what is the answer to this problem? 12. Winsor Construction Company...

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Accounting

what is the answer to this problem?

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12. Winsor Construction Company uses the percentage-of-completion method of accounting. In 2007, Winsor began work on a contract it had received which provided for a contract price of $3,750,000. Other details follow: 2007 Costs incurred during the year $1,800,000 Estimated costs to complete as of December 31 1,200,000 Billings during the year 1,650,000 Collections during the year 975,000 What should be the gross profit recognized in 2007? 0 $750,000 O $450.000 O $1,950,000 O $150,000

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