Constructing and Assessing Income Statements Using Percentage-of-CompIetion On March 15, 2014, Frankel Construction contracted to build a shopping center at a contract price of $125 million. The schedule of expected (which equals actual) cash collections and contract costs follows: a. Calculate the amount of revenue, expense, and net income for each of the three years 2014 through 2016 using the percentage-of-completion revenue recognition method. (Round percents to the nearest whole number.) b. Discuss whether or not the percentage-of-completion method provides a good measure of this construction company's performance under the contract