Computing Revenues under Long-Term Contracts Camden Corporations agreed to build a warehouse for a client at an agreed contract price of $1,620,000. Expected (and actual) costs for the warehouse follow: 2016, $364,500; 2017, $607,500; and 2018, $243,000. 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. 1,620,000 year costs % of total revenue incurred exp cost recognized income 2016 364,500 2017 607,500 2018 243,000 1,215,000 30% 486,000 121,500 50% 810,000 202,500 20% 324,000 81,000 1,620,000 405,000