Annabello Co. which is a publicly traded company started to build a 20-story Condo building in May 2018. The project will take 5 years to finish, and the total contract price is $80,000,000. The following table provides information about the cost and revenue of the contract

	2018	2019	2020	2021	2022
Costs incurred during the year	$15,400,000	$14,000,000	$29,000,000	$10,000,000	$4,000,000
Estimated costs to complete the project	45,000,000	38,5000,000	22,000,000	8,000,000	0
Billings	15,000,000	16,000,000	20,000,000	19,000,000	10,000,000

A) Assume the company uses the percentage of completion method based on input, calculate and record the revenue and profit for each year.

B) Determine how this contract will be presented in the balance sheets of 2019