connect. ACCOUNTING ercise Homework Question 6 (of 6) value 10.00 points On June 15, 2016, Sanderson Construction entered into a long term construction contract to build a baseball stadium in Washington, D.C, for $220 millon. The expected completion date is April 1, 2018, just in time for the 2018 baseball season Costs incuired and eshimiated costs to complete at year end for the life of the contract are as follows (S in millions) Costs incured during the year Estimated costs to complete as of December 31 2016 2017 2018 40 $80 50 120 , 60 Required: 1. Compute the revenue and gross profit Sanderson will report in its 2016, 2017, and 2018 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion (Enter your answers in million. Use percentages as calculated and rounded in the table below to arrive at your final answer. Losses and expenses should be indicated with a minus sign.) 2017 018 2016 5 15,000 000 11. 666, 66 Estmated total gross profit (loss) Actual total gross profit (los5) 23 1 Choose numerator Actual costs to date Actual costs to date 2016 2017 2018 10000%