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Dallashall, Inc. has agreed to build an addition for an othce building for a contract price of $3,000. The period of construction is estimated to
Dallashall, Inc. has agreed to build an addition for an othce building for a contract price of $3,000. The period of construction is estimated to be four years. The contract was signed on January 1, 2020 and the construction began immediately. The building is completed at the end of 2023. Data on costs incurred and the estimated costs to complete over the period of construction is as follows: 2020 2021 2022 2023 $750 $925 Costs incurred this period $700 $450 Estimated costs to complete as of year-end 775 1,500 1,975 For each of the following years, how much is shown on Dallashall's income statement as Construction Revenue if the company uses the completed contract method? Enter your answer in the following form: $xxx,XXX 2020 2021 2022 2023
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