A construction company entered into a fixed-price contract to build an office building 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. How much revenue will appear in the companys income statement in the first year using the percentage-of-completion method? (Enter your answer in whole dollars.) Revenue? How much gross profit or loss will the company recognize in the first year using the percentage of completion method?