Excess construction corp. has a $16 million contract to construct a building. the company estimates $10.4 million in costs to construct the building and an expected gross profit of $5.6 million. during the current year, the company incurred $3,120,000 of costs on the contract. under the percentage-of-completion method, how much will excess construction corp. report as revenue in the current year?

Ancho corp. is an automobile company whose core competency lies in manufacturing petrol- and diesel- based cars. the company realizes that more of its potential customers are switching to electric cars. the r& d department of the company acquires competencies in developing electric cars and launches its first hybrid car, which uses both gas and electricity. in this scenario, ancho is primarilya. leveraging new core competencies to improve current market position. b. redeploying existing core competencies to compete in future markets. c. unlearning existing core competencies to create and compete in markets of the future. d. building new core competencies to protect and extend current market position