Crai has entered into a contract beginning January 1, 2020, to build a parking complex. It has been estimated that the complex will cost $599,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $905,000. The following data pertain to the construction period. Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2020 $257,570 341,430 270,000 240,000 2021 $413,310 185,690 551,000 501,000 2022 $609,000 -0- 905,000 905.000 (a) Using the percentage-of-completion method, compute the estimated gross profit that would be recognized during each year of the construction period. Gross profit recognized in 2020 $ Gross profit recognized in 2021 $ Gross profit recognized in 2022 (b) Using the completed-contract method, compute the estimated gross profit that would be recognized during each year of the construction period. Gross profit recognized in 2020 $ Gross profit recognized in 2021 $ Gross profit recognized in 2022 $