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Martac Construction Co is constructing a law courts complex for the Justice Department at a fixed price of $70 million. Unfortunately by the end of year 1, costs had been incurred of $40 million, but the contract was only 50% complete. $20 million had been invoiced. It is expected that the costs will have risen to $85 million by the time the project has completed. What figure should Martac Co show under current assets on its statement of financial position at the end of year 1 as amounts due from customers'? A. $45 million. B. $15 million. C. $20 million. D. $5 million. |