Belle Networks Incorporated (BNI) accepts a fixed fee contract to develop and implement a communications network for Gatrong Sound Systems. BNI accepts a fixed fee of $19,100 and must complete the project within three years. BNI uses the percentage-of-completion method of accounting to determine the percent complete using the cost-to-cost approach. Costs incurred and estimated total costs are summarized in the table below. (Click the icon to view the costs incurred and estimated total costs.) Determine the amount of gross profit that BNI will report in each of the three years. (Enter the percentages to the nearest whole number. Enter "0" for any zero amounts.) First, compute the percentage of completion for each year. 2022 2023 2024 Cumulative percent complete Revenue and Gross Profit Recognition Contract price Times: Percent complete Cumulative revenue Revenue recognized in prior years Current year revenue Less: Actual costs Gross profit recognized in the current year Contract Information 2022 2023 2024 2022 2023 2024 Actual costs incurred during the year 5 Actual costs incurred in previous years 2,205 $ 3,700 $ 8.005 Estimated costs to complete 0 12.495 2,205 5.905 4,905 14,700 $ 10,000 $ 14,000 Estimated total costs Print Done - X