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41. Binder Corporation agreed to build a warehouse for a client at an agreed contract price of $4,000,000. Expected (and actual) costs for the warehouse
41. Binder Corporation agreed to build a warehouse for a client at an agreed contract price of $4,000,000. Expected (and actual) costs for the warehouse follow: 2017, $640,000; 2018, $1,600,000; and 2019, $1,000,000. The company completed the warehouse in 2019. Compute net income for each year 2017 through 2019 using the cost-to-cost method. A) 2017 Net Income: B) 2018 Net Income: C) 2019 Net Income
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