00 8 Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,770,000. The project was begun in 2020 and completed in 2021. Cost and other data are presented below: Costs incurred during the year Estimated costs to complete Billings during the year cash collections during the year 2020 2021 $396,eee $1,070,000 924, eee 490, eee 1,280, eee 390, eee 1,380, eee Assume that Beavis recognizes revenue upon completion of the project. Required: Compute the amount of gross profit recognized during 2020 and 2021. (Leave no cells blank - be certain to enter "0" wherever required.) Gross Profit 2020 2021