A cruise ship builder agrees to build a new ship for a major cruise line. The contract is cancelable by either party and stipulates that the builder will bill the cruise line for half of the total purchase price of $800 million on October 1, 2016 and half upon completion and delivery of the ship on March 1, 2018.

The builder begins work on March 1, 2015. The following table shows the progress the builder makes to build the ship over time:

Date	Total cost incurred during the year	Total remaining cost
12/31/2015	$180 million	$420 million
12/31/2016	$200 million	$220 million
12/31/2017	$160 million	$60 million
3/1/2018	$60 million

Assume that the contract performance obligations qualify as satisfied over time because the cruise ship builder creates an asset that the cruise line controls as it is being built. What should the builder's financial statements show during each year of this contract?