I'm getting "Error: Android Source Generator:[app_name] Android SDK is not specifed" in Android Studio while trying to Build Project.

I have Android Studio 1.0.2 RC4 version.

What have been done:

SDK installed ith SDK Manager

Project Structure -> SDK; I have added there minimum and target SDK as well

updated build.gradle

build.gradle file:

apply plugin: 'com.android.application'

android {

compileSdkVersion 21

buildToolsVersion "21.1.2"

defaultConfig {

applicationId "com.byoutline.pinafood"

minSdkVersion 15

targetSdkVersion 21

versionCode 1

versionName "1.0"

}

buildTypes {

release {

runProguard false

proguardFiles getDefaultProguardFile('proguard-android.txt'), 'proguard-rules.pro'

}

}

}

dependencies {

compile fileTree(dir: 'libs', include: ['*.jar'])

compile 'com.jakewharton:butterknife:6.0.0'

compile 'com.squareup.retrofit:retrofit:1.6.1'

compile 'com.etsy.android.grid:library:1.0.5'

compile 'org.glassfish:javax.annotation:3.1.1'

compile 'com.squareup:otto:1.3.5'

compile 'com.squareup.picasso:picasso:2.3.4'

compile 'com.squareup.dagger:dagger:1.2.2'

provided 'com.squareup.dagger:dagger-compiler:1.2.1'

compile 'com.jakewharton.hugo:hugo-runtime:1.1.0'

compile 'com.jakewharton.timber:timber:2.4.+'

}