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Brady Construction Company contracted to build an apartment complex for a price of $6,600,000. Construction began in 2024 and was completed in 2026. The
Brady Construction Company contracted to build an apartment complex for a price of $6,600,000. Construction began in 2024 and was completed in 2026. The following is a series of independent situations, numbered 1 through 6, involving differing costs for the project. All costs are stated in thousands of dollars. Costs Incurred during Year Situation 2024 2025 1 $ 1,660 $ 2,610 2026 $ 1,380 $ 3,990 Estimated Costs to Complete (As of the End of the Year) 2024 2025 2026 $ 1,380 2 1,660 1,380 3,040 3,990 3,040 3 1,660 2,610 2,880 3,990 2,780 4 660 3,160 1,320 4,620 955 5 660 3,160 2,420 4,620 2,780 6 660 3,160 3,400 6,155 3,140 Required: Complete the following table. Note: Do not round intermediate calculations. Enter your answers in whole dollars and not in thousands of dollars (i.e., $400 thousand should be entered as $400,000). Round your final answers to the nearest whole dollar. Negative amounts should be indicated by a minus sign. Gross Profit (Loss) Recognized Revenue Recognized Over Time Situation 2024 2025 2026 Revenue Recognized Upon Completion 2024 2026 2025 2 3
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