Current Attempt in Progress Sunland Construction, which follows ASPE entered into a contract to construct a bridge for a contract price of $2.8 million. Construction began in 2022 and was completed in 2024. Below are the details of the transactions related to the contract: Costs incurred during the year Estimated costs to complete Revenue Expenses tA $ Gross Profit $ eTextbook and Media 2022 2022 $625,000 1,487,000 US Calculate the gross profit to be recognized each year using the completed-contract method. 2023 $816,000 699,000 $ 2024 $705,900 0 2023 2024

Sunland Construction, which follows ASPE entered into a contract to construct a bridge for a contract price of $2.8 million. Construction began in 2022 and was completed in 2024 . Below are the detaile of the transactions related to the contract: Calculate the gross profit to be recognized each year using the completed contract method