Computing Revenues under Long-Term Contracts Camden Corporations agreed to build a warehouse for a client at an agreed contract price of $540,000. Expected (and actual) costs for the warehouse follow: 2016, $121,500; 2017, $202,500; and 2018, $81,000. The company completed the warehouse in 2018. Compute revenues, expenses, and income for each year 2016 through 2018, and for all three years combined, using the cost-to-cost method. Cost-to-Cost Method % of total Costs expected Revenue Year incurred costs recognized Income 2016 $ 0 0% $ 0 $ 0 2017 0 0 % 0 0 2018 0 0 % 0 0 Total $ 0 $ 0 $ 0