Cullumber Construction Company has entered into a contract beginning January $1,2025,$ to build a parking complex. It

has been estimated that the complex will cost $$597,000$ 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.

$($a$)$

Using the percentage$-$of$-$completion method, compute the estimated gross profit that would be recognized during

each year of the construction period. $($If answer is $O,$ please enter $O.$ Do not leave any fields blank.$)$

Gross profit recognized in $2025,$$

Gross profit recognized in $2026,$$

Gross profit recognized in $2027,$$

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$($b$)$

Using the cost$-$recovery method, compute the estimated gross profit that would be recognized during each year of

the construction period. $($If answer is $O,$ please enter $0.$ Do not leave any fields blank.$)$

Gross profit recognized in $2025$ $

Gross profit recognized in $2026$ $

Gross profit recognized in $2027$ $

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