4) On January 1, 20x1, BuildThemUp Construction Company contracted to construct a factory building for PetBed Inc. for a total contract price of $1,000,000. The building was completed by December 15, 20X3. The following data pertain to the construction period: 20X1 200,000 400,000 120X2 430.000 200,000 20X3 630,000 Cost to date Estimated costs to complete Progress billing to date Cash collected to date 250.000 220,000 600,000 550,000 1,000,000 1,000,000 Instructions (a) Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 20X1, 20X2, and 20X3. (Ignore income taxes.) (b) Using the completed-contract method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 20X1, 20X2, and 20X3. (Ignore incomes taxes.) (C) Write all the journal entries related to the construction contract for 20X1, 20X2, and 20X3