GreenUp, a calendar year, accrual basis taxpayer, provides landscaping installation and maintenance services to its customers. In August 2023, GreenUp contracted with a university to renovate its lawns and gardens. GreenUp agreed to complete the entire renovation by May 31, 2025, and the university prepaid the entire $100,000 fee. GreenUp completed 20 percent of the work in 2023, 65 percent in 2024, and 15 percent in 2025. Required: a. How much revenue should GreenUp report on its financial statements for 2023, 2024, and 2025? b. How much taxable income must GreenUp recognize in 2023, 2024, and 2025?

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