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Beck Construction Company began work on a new building project on January 1,2023 . The project is to be completed by December 31,2025 , for
Beck Construction Company began work on a new building project on January 1,2023 . The project is to be completed by December 31,2025 , for a fixed price of $165 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: 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? Note: Enter "None" If there is no requirement of recognizing profit or loss. Loss amounts should be lndlcated with a minus sign. Enter your answers In millions (1.e., 10,000,000 should be entered as 10)
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