Curtiss Construction Company, Incorporated, entered into a fixed$-$price contract with Axelrod Associates on July $1,2024,$ to construct a four$-$story office building. At that time, Curtiss estimated that it would take between two and three years to complete the project. The total contract price for construction of the building is $$4,780,000.$ The building was completed on December $31,2026.$ Estimated percentage of completion, accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Axelrod under the contract were as follows: At $12-31-2024$ At $12-31-2025$ At $12-31-2026$ Percentage of completion $10\%60\%100\%$ Costs incurred to date $ $372,000$ $ $3,066,000$ $ $5,173,000$ Estimated costs to complete $3,348,0002,044,0000$ B