3. (15 points) On January 1,2020 , assume that Twister Construction Company agreed to construct an observatory for Smartmouth College for 145 million. Smartmouth College must pay $72.500 miltion upon signing and $36.250 million in 2021 and 2022. Expected construction costs are $21.750 million for 2020,$54.375 million for 2021, and \$32.625 million for 2022 . a. Assuming Twister uses the completed-contract method, indicate the following (in millions of dollars, rounded to three decimal places): 1. Net contract gain (loss) for 2020. 2. Net contract gain (loss) for 2021 . 3. Net contract gain (loss) for 2022. 4. Balance in the Construction in Process account on December 31, 2020. 5. Balance in the Construction in Process account on December 31, 2021. 6. Balance in the Construction in Process account on December 31, 2022. b. Assuming Twister uses the percentage-of-completion method, indicate the following (in millions of dollars, rounded to three decimal places): 1. Net contract gain (loss) for 2020. 2. Net contract gain (loss) for 2021 . 3. Net contract gain (loss) for 2022. 4. Balance in the Construction in Process account on December 31, 2020. 5. Balance in the Construction in Process account on December 31,2021. 6. Balance in the Construction in Process account on December 31,2022