1. Novak commenced doing business on January 1,2021. 2. Construction activities for the year ended December 31.2021 , were as follows: 3. Each contract is with a different customer. 4. Any work remaining to be done on the contracts is expected to be completed in 2022. Compute the amount of income (or loss) before selling. general, and administrative expenses for the year ended December 3 2021, which would be reported under: Indicate the balances that would appear in the balance sheet at December 31,2021 for the following accounts for Project o (fourth project), assuming that the percentage-of-completion method is used. List of Accounts How would the balances in the accounts discussed in part (c) change (if at all) for Project D (fourth project), if the completedcontract method is used? Compute the amount of income (or loss) before selling, general, and administrative expenses for the year ended December 31 . 2021, which would be reported under: (1) The completed-contract method. $ (2) The percentage-of-completion method (based on estimated costs). $ Prepare the general journal entry to record revenue and gross profit on project B (second project) for 2021, assuming that the percentage-of-completion method is used. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)