Contract price is $10,000,000

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4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. 2019 $2,291,000 $3,855,000 $3,255,000 2018 2020 Cost incurred during the year Estimated costs to complete as of year-end 5,609,000 3,155,000 5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information 2018 2019 2020 Cost incurred during the year Estimated costs to complete as of year-end 2,291,000 3,855,00 $4,065,000 4,210,000 5,609,000