Megan Corp. recognizes revenue over time to account for long-term contracts. At the date the contract is signed, the price is $600,000 and the expected costs to complete the contract are $400,000. The following information is available: Year 1 Year 2 Year 3 Costs incurred to date $200,000 $350,000 $500,000 Estimated costs to complete 200,000 150,000 0 Progress billings 200,000 200,000 200,000 What is the amount of gross profit or loss that is recognized in year 2

Suppose that california imposes a sales tax of 10 percent on all goods and services. a californian named ralph then goes into a home improvement store in the state capital of sacramento and buys a leaf blower that is priced at $200. with the 10 percent sales tax, his total comes to $220. how much of the $220 paid by ralph will be counted in the national income and product accounts as private income (employee compensation, rents, interest, proprietors' income, and corporate profits)?