6. On December 31, 2017, Tri-State Construction Inc. signs a contract with the state of West Virginia Department New River. State anticipates the construction will take of Transportation to manufacture a bridge over the three years. The company's accountants provide the following contract details relating to the project: $780 million Contract price Estimated construction costs Estimated total profit $600 million $180 million During the three-year construction period, Tri-State incurred costs as follows: S 60 million $360 million $180 million Complete the table below by computing the revenue recognized, construction costs expensed, and income 2018 2019 2020 earned for each year using the cost-to-cost method. 2018 2019 2020 Construction costs incurred Percentage to total costs Revenue recognized Income earned 7. The 2016 income statements of Leggett & Platt, Inc., reports net sales of $3,749.9 million in 2016 and S3,917.2 million in 2015. The balance sheet reports accounts and other receivables, net of $486.6 million at December 31, 2016, $520.5 million at December 31, 2015, and $523.3 million at December 31, 2014 a.) Calculate the average number of days that receivables were outstanding for both yea b.) Explain in layman's terms, what this ratio means. 8. Heller Corporation has aged its accounts receivable a millions): nd estimated uncollectible accounts as follows (in Age of Receivables Current 30-60 days past due 61-90 days past due Over 90 days past due Total Balance $11,000 2,400 1,700 840 $15,940 Estimated % uncollectible 1% 3% 6% 10% Use the data to determine the appropriate amount to be reported as allowance for uncollectible accounts