Blossom Construction Company has entered into a non-cancellable contract beginning January 1, 2023, to build a parking complex. It has been estimated that the complex will cost $625,000 and will take three years to construct. The complex will be billed to the purchasing company at $900,000. The following data pertain to the construction period. 2023 2024 2025 Costs to date $281,250 $468,750 $635,000 Estimated costs to complete 343,750 156,250 0 Progress billings to date (non-refundable) 281,250 575,000 900,000 Cash collected to date 251,250 525,000 900,000