Use the Following Information for Questions 80 and 81

question 69

Multiple Choice

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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Definitions:

National Park

A protected area, established by a national government, meant to preserve the natural environment for public enjoyment and ecological conservation.

Early Conservation Movement

A social and political effort initiated in the late 19th and early 20th centuries aimed at conserving natural resources and protecting the natural environment from destruction or degradation.

Nationwide Ridicule

Widespread mockery or scorn directed at a person, policy, or event across an entire country.

Statehood

The condition or status of being recognized as a sovereign state with an independent government and participation in international diplomacy.