Dalton Construction Co. contracted to build a bridge for $8,000,000. Construction began in 2018 and was completed in 2019. Data relating to the construction are: 2018 2019 Costs incurred during the year $2,105,600 $2,408,400 Estimated costs to complete 2,374,400 Dalton uses the percentage-of-completion method.

Part 1 How much revenue should be reported for 2018?

Part 2 Make the entry to record progress billings of $2,905,600 during 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit

Part 3 Make the entry to record the revenue and gross profit for 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit

Part 4 How much gross profit should be reported for 2019?

Gross profit

$