The Ugenti Construction Company contracted to construct a
warehouse building for $2,600,000. Construction began in 2016 and
was completed in 2017. Data relating to the contract are summarized
below:
                                                                              
   
2016                 
2017
      Costs incurred during the
year.................      $  
360,000        
$1,650,000
      Estimated costs to complete as of
12/31.       
1,560,000           
      
-      
      Billings during the year
..........................
         
430,000        
2,170,000
      Cash collections during the
year..............
         
320,000        
2,280,000
Required:
1.   Compute the amount of
gross...