Cool-It Ltd. manufactures and sells air conditioning equipment to retailers across North America. In 2020, Cool-IT signed a two-year contract with BigMart Ltd. to supply it with 57,100 units at a price of $77 per unit. Cool-IT's cost to manufacture these units is $54. The following schedule summarizes the production, delivery, and payments in relation to the contract. Production costs are recorded to inventory: Air conditioning units delivered Production costs incurred Cash payments received 2020 2021 34,200 22,900 $1,846,800 $1,236,600 $2,236,400 $1,862,300 Total 57,100 $3,083,400 $4,098,700 (al) Determine how much revenue Cool-It would be able to recognize in 2020 and 2021. Revenue recognized in 2020 Revenue recognized in 2021