In 2000, Able Builders, Inc. was awarded a contract to build a bridge for the City of Metropolis. A reliable estimate of the total cost of the contract was $ 60000000. The contract price was $ 80000000. All invoices were paid in cash in the year the invoice was submitted. A schedule of revenues received and costs incurred during the contract was as follows (in $ millions):
A.
B.2001
C.2002
D.2003
E.2004
F.Amount Invoiced
G.l0
H.30
I.30
J.10
K.Costs Incurred
L.12
M.22
N.21
O.5