Answer:
-$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.
