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Carla Vista Construction Company has entered into a non-cancellable contract beginning January 1, 2020, to build a parking complex. It has been estimated that the

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Carla Vista Construction Company has entered into a non-cancellable contract beginning January 1, 2020, to build a parking complex. It has been estimated that the complex will cost $605,000 and will take three years to construct. The complex will be billed to the purchasing company at $950,000. The following data pertain to the construction period. 2020 2021 2022 Costs to date $272.250 $453,750 $615,000 332.750 151,250 0 Estimated costs to complete Progress billings to date (non-refundable) 272.250 555,000 950,000 Cash collected to date 242250 505,000 950,000 Using the percentage-of-completion method, calculate the estimated gross profit that would be recognized during each year of the construction period. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2020 2021 2022 Gross profit/(loss) $ e Textbook and Media List of Accounts Using the completed contract method, calculate the estimated gross profit that would be recognized during each year of the construction period. (Do not leave any answer field blank. Enter for amounts. Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Using the completed-contract method, calculate the estimated gross profit that would be recognized during each year of the construction period. (Do not leave any answer field blank. Enter for amounts. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2020 2021 2022 Gross profit/(loss) $ Toythonk and Modi

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