In 2010, Dreyer Corporation began construction work under a three year contract. The contract price is $800,000. Dreyer uses the percentage of completion method. The financial statement presentations relating to this contract on December 31, 2010 follow:
![990_268-B-A-R-R (437).png](https://secure.tutorsglobe.com/CMSImages/990_268-B-A-R-R (437).png)
Required:
1. How much cash did Dreyer collect during 2010?
2. What was the initial estimated total income before tax on this contract?