12 Indiana Company began a construction project in 2024 with

Last updated: 10/2/2023

12 Indiana Company began a construction project in 2024 with a contract price of 161 million to be received when the project is complete 2026 During 2024 Indiana incurred 35 million of costs and estimates an additional 84 million of costs to complete the project Indian recognizes revenue over time and for this project recognizes revenue over time according to the percentage of the project that has beer completed 01 26 29 Indiana Note Do not round intermediate calculations Present final answer in millions to 2 decimal places Multiple Choice recognized no gross profit or loss on the project in 2024 recognized 35 00 million loss on the project in 2024