JRE2 Inc. entered into a contract to install a pipeline for a fixed price of $2,410,000. JRE2 recognizes revenue upon contract completion. Cost incurred Estimated Cost to Complete 2020 $ 278,000 $ 1,690,000 2021 1,740,000 654,000 2022 590,000 0 In 2022, JRE2 would report gross profit (loss) of:

-$262,000

Explanation:

The calculation of gross profit or loss is shown below:-

Total revenue = $2,410,000

Total cost incurred = $278,000 + $1,740,000

= $2,018,000

Project total estimated cost = $2,018,000 + $654,000

= $2,672,000

Total income = Total revenue - Project total estimated cost

= $2,410,000 - $2,672,000

=-$262,000

Therefore for computing the gross loss we simply deduct the project total estimated cost from total revenue.

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you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

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