(c) Compute the amount of gross profit to be recognized each year, assuming the completed-contract method is used. Q Ac Q Ac Gross profit eTextbook and Media List of Accounts Save for Later: 2020 2021 2022 Qu Ace Vi 14 Acc Qu Attempts: 0 of 5 used Submit Answer Acc MacBook Air Qu Acco Current Attempt in Progress During 2020, Crane Company started a construction job with a contract price of $1,610,000. The job was completed in 2022. The following information is available. 2020 2021 2022 Costs incurred to date $410,000 $754,800 $1,067,000 Estimated costs to complete 590,000 355,200 -0- Billings to date 297,000 899,000 1,610,000 Collections to date 272,000 818,000 1,437,000 (a) Your answer is correct