contract, assuming this project does not qualify for revenue recognition over time. 3. Suppose the estimated costs to complete at the end of 2025 are $80 million instead of $60 million. Compute the amount of reverve and gross profit or loss to be recognized in 2025, assuming Sanderson recognizes revenue over time according to percentage of completion. Complete this question by entering your answers in the tabs below. Compute the revenue and gross profit that Sanderson will report in its 2024, 2025, and 2026 income statements refated to this contract, assuming this project does not qualify for revenue recognition over time. Note: Fiter your answer in mitions (i.e, \$4,000,000 showld be entered as $4 ), toss anounts should be indicated withe minus sign. Leave no calls blank Compute the revenue and gross profit that Sanderson will report in its 2024, 2025, and 2026 income statements related to this con assuming Sanderson recognizes revenue over time according to percentage of completion. Note: Enter your answer in millions (i.e, $4,000,000 should be entered as $4 ). Loss amounts should be indicated with a minus sign percentages as calculated and rounded in the table below to arrive at your final answer. Complete this question by entering your answers in the tabs below. Suppose the estimated costs to complete at the end of 2025 are $80 milion instead of $60 million. Compute the amount of revenue and gross profit or loss to be recognized in 2025, assuming Sanderson recogoizes revenue over time according to percentage of completion. Note: Liter your answer in millions 0.6,$4,000,000 should be entered as $4 ). Use percentoges as calculated and rounded lo the table below to arrwe at your final answer. On June 15, 2024, Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington. D.C. for $220 million. The expected completion date is April 1. 2026, just in time for the 2026 baseball season. Costs incurred and estimated costs to complete at year-end for the life of the contract are as follows ( $ in millions): Required: 1. Compute the reverue and gross profit that Sanderson will report in its 2024.2025. and 2026 income statements related to this contract, assuming Sanderson recognizes revenue over time according to percentage of completion 2. Compute the revenue and gross profit that Sanderson wil report in its 2024, 2025, and 2026 income statements refated to this contract, assuming this project does not qualify for reverue recognition over time. 3. Suppose the estimated costs to complete at the end of 2025 are $80 million instead of $60 milion. Compute the amount of revenue and gross profit or loss to be recognized in 2025, assuming Sanderson recognizes revenLe over time according fo percentage of completion