A construction company entered into a fixed price contract to build an office bulding for $38 million Construction costs incurred during the first year were $12 million and estimated costs to complete at the end of the year were $18 million The company recognizes revenue over time according to percentage of completion How much revenue and gross profit or loss will appear in the company's income statement in the first year of the contract? (Enter your answer in whole dollars.) Answer is complete but not entirely correct. Revenue $ 15 Gross profit 38