Current Attempt in Progress df On March 1, 2020, Ivanhoe Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,460,000. The building was completed by October 31, 2022. The annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to Fabrik for 2020 2021, and 2022 are given below: Contract costs incurred during the year Estimated costs to complete the contract at 12/31 Billings to Fabrik during the year 2020 2021 2022 $2,971,600 $2,033,200 $2,355,200 3,488,400 2,355,200 -0- 3,190,000 3,510,000 1.760,000 (a) Using the percentage-of-completion method, prepale schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020 2021, and 2022. (Ignore income taxes.) (If answer is 0. please enter 0. Do not leave any fields blank. Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) 2020 (a) Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020 2021, and 2022. (Ignore income taxes.) (If answer is 0, please enter 0. Do not leave any fields blank. Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2020 Costs to date (12/31/20) Profit/ (Loss) Recognized in 2020 Costs Incurred Estimated Costs to Complete Estimated Total Costs Revenue Recognized Percent Complete 2021 Costs incurred in 2021 Profit/ (Loss) Recognized in 2020 Costs to date (12/31/21) Percent Complete Estimated Costs to Complete Estimated Total Costs Revenue Recognized in 2021 2022 Profit Previously Recognized Total Profit on Contract Total Costs incurred Total Revenue Recognized Profit/(Loss) Recognized in 2022 (b) Using the completed-contract method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020, 2021, and 2022. (Ignore income taxes.) (if answer is o, please enter 0. Do not leave any fields blank. Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2020 $ 2021 $ 2022 $