Assume that crane construction company has a non-cancellable contract a $4,800,000 bridge at an estimated cost of $4,320,000. The contract is to start in July 2023, and the bridge is to be completed in October 2025. The following data pertain to the construction period. (Note that, by the end of 2024, Crane has revised the estimated total cost from $4,320,000 to $4,374,000.) Assume that progress billings are non-refundable.

(a1) Under the percentage-of-completion, how would Crane present the information for 2024 in the incom