Carla Vista Construction Inc., which has a calendar year end, has entered into a non-cancellable fixed-price contract for $2.5 million beginning September 1, 2023, to build a road for a municipality. It has been estimated that the road construction will be complete by June 2025. The following data pertain to the construction period. Costs to date Estimated costs to complete Progress billings to date (non-refundable) Cash collected to date (a) Gross profit/(loss) $ eTextbook and Media 2023 2023 $784,000 $1,545,000 1,456,000 840,000 684,000 2024 LA 515,000 2,050,000 1,929,000 Using the percentage-of-completion method, calculate the estimated gross profit that would be recognized during each year the construction period. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round answers to 0 decimal places, e.g. 5,275.) 2025 2024 $2,100,000 0 2,500,000 2,500,000 2025 Assistance

Carla Vista Construction Inc., which has a calendar year end, has entered into a non-cancellable fixed-price contract for $2.5 million beginning September 1, 2023, to build a road for a municipality. It has been estimated that the road construction will be complete by June 2025. The following data pertain to the construction period. (a) Using the percentage-of-completion method, calculate the estimated gross profit that would be recognized during each year the construction period. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round answers to 0 decimal places, e.g. 5,275.)