Total contract price: $100,000
Actual costs during 1993: $20,000
Estimated remaining costs: $40,000
Billed to customer during 1993: $30,000
Received from customer during 1993: $10,000
Under the completed contract method, how much should the company recognize as gross profit for 1993?
a. 0
b. 4000
c. 10000
d. 12000