3:00- < Notes The galactic senate has awarded the Woolie builder inc a fixed price contract to construct a new diplomatic facility on coruscant for 42 million during the first year the wookie builders recorded construction cost 12 million and estimated cost to complete at the end of the year were 28 million. Wookiee builders inc recognize revune over time accord to percentage of completion How much revenue and gross profit or lose will appear in woolie builders inc income statement in the first year of the contract Revenue Gross profit or loss profit Gross profit or Lost profit