A construction company entered into a fixed-price contract to build an office building for $48 million. Construction costs incurred during the first year were $18 million and estimated costs to complete at the end of the year were $27 million. The company recognizes revenue over time according to percentage of completion. How much revenue and gross profit or loss will appear in the companys income statement in the first year of the contract? (Enter your answer in whole dollars.) revenue ?

gross loss or gross gain? How much ?

Video Planet (VP) sells a big screen TV package consisting of a 60-inch plasma TV, a universal remote, and on-site installation by VP staff. The installation includes programming the remote to have the TV interface with other parts of the customers home entertainment system. VP concludes that the TV, remote, and installation service are separate performance obligations. VP sells the 60-inch TV separately for $1,280, sells the remote separately for $80, and offers the installation service separately for $240. The entire package sells for $1,500. Required: How much revenue would be allocated to the TV, the remote, and the installation service? (Do not round intermediate calculations.)

TV ? remote ? installation ? total revenue?