Ellen Limited entered into a fixed-price construction contract with no variable component on | January 2015. The contract price, which was determined at inception, is €10,000,000.

The contract is considered to contain only one performance obligation which will be satisfied over time and Ellen Limited determined that an input method that uses the percentage of completion based on costs incurred appropriately predicts performance under the contract.

Further details about the contract are provided below.

Requirement Calculate the revenue to be recognised in the statement of profit and loss and other comprehensive income of Ellen Limited in each of the three years.

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2015 2016 2017 Estimated % completion 40% 75% 100%