Could you explain why these are the answers of this question If you use financial calculator, then tell me what value you put into Thank you Camey Construction enters into a long term fixed price contract to build an office building for $5,000,000 In the first year of the contract Camey incurs $1,400,000 of cost and the engineers determined that the remaining costs to complete the project are $2,500,000 Camey billed $4,000,000 and collected $1,000,000 in year 1 How much gross profit should Camey recognize in Year 1 assuming the use of the percentage of completion method (Round any intermediary percentages to the nearest hundredth percent, and round your final answer to the nearest whole dollar ) A $394,900 Gleason Construction enters into a long term fixed price contract to build an office building for $27,000,000 In the first year of the contract Gleason incurs $5,000,000 of cost and the engineers determined that the remaining costs to complete the project are $24,000,000 How much gross profit or loss should Gleason recognize in Year 1 assuming the use of the percentage of completion method A $2,000,000 loss Fare Jewelry Company is holding goods on consignment from Tomko with a selling price of $4,000,000 Fare is promised a commission of 25 for goods sold By the end of 2019 Fare has sold $600,000 of Tomko's goods How much revenue should Fare recognize for 2019 on this transaction A $150,000

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Could you explain why these are the answers of this question? If you use financial calculator, then tell me what value you put into. Thank

Could you explain why these are the answers of this question? If you use financial calculator, then tell me what value you put into. Thank you

Camey Construction enters into a long-term fixed price contract to build an office building for $5,000,000.In the first year of the contract Camey incurs $1,400,000 of cost and the engineers determined that the remaining costs to complete the project are $2,500,000.Camey billed $4,000,000 and collected $1,000,000 in year 1. How much gross profit should Camey recognize in Year 1 assuming the use of the percentage of completion method? (Round any intermediary percentages to the nearest hundredth percent, and round your final answer to the nearest whole dollar.)

A.$394,900

Gleason Construction enters into a long-term fixed price contract to build an office building for $27,000,000.In the first year of the contract Gleason incurs $5,000,000 of cost and the engineers determined that the remaining costs to complete the project are $24,000,000. How much gross profit or loss should Gleason recognize in Year 1 assuming the use of the percentage-of-completion method?

A.$2,000,000 loss

Fare Jewelry Company is holding goods on consignment from Tomko with a selling price of $4,000,000. Fare is promised a commission of 25% for goods sold.By the end of 2019 Fare has sold $600,000 of Tomko's goods. How much revenue should Fare recognize for 2019 on this transaction?

A. $150,000