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Beck Construction Company began work on a new building project on January 1, 2015. The project is to be completed by December 31, 2017, for

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Beck Construction Company began work on a new building project on January 1, 2015. The project is to be completed by December 31, 2017, for a fixed price of $184 million. The following are the actual costs incurred and estimates of remaining costs to complete the project that were made by Beck's accounting staff: Estimated remaining costs to Actual costs complete the incurred in project (measured at Dec. 31 of Years each year each year) 2015 $49 million $98 million 2016 $83 million $83 million 2017 $54 million $ O million Required: What amount of gross profit (or loss) would Beck record on this project in each year, assuming that Beck recognizes revenue for this project upon completion of the project? Place answers in the spaces provided below and show supporting computations. (Loss amounts should be indicated with a minus sign. Enter your answers in millions (.e., 10,000,000 should be entered as 10).) Years 2015 2016 2017 Gross Profit (or Loss) recognized Gross profit $ 12 million Gross loss $ (39) million Gross profit $ 86 million

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