Pool Contractors (PC) entered into a contract to build a solar heated swimming complex for $1,800,000. Construction commenced on July 1, 2011, with a planned completion date of December 31, 2013. A summary of the related accounting information is provided below: 
How much gross profit would be recognized in fiscal 2012 if PC uses the percentage of completion method?
Definitions:
TV Soap Opera
A serialized television drama focusing on domestic situations and often characterized by melodrama.
Marital Conflict
Disputes or disagreements between married partners, which can range from minor disputes to severe relational disturbances.
Context-Dependent Memory
The improved recall of specific episodes or information when the context present at encoding and retrieval is the same.
Workplace Colleague
An individual with whom one shares a work environment, often collaborating on projects or sharing tasks.
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