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During 2014, Bill Corp. started a construction job with a total contract price of $30,000,000. The job was completed on December 15, 2015. Additional data

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During 2014, Bill Corp. started a construction job with a total contract price of $30,000,000. The job was completed on December 15, 2015. Additional data are as follows: 2014 2015 Actual costs incurred $5,000,000 $6,000,000 Estimated remaining costs 5,000,000 Billed to customer 4,800,000 9,200,000 Received from customer 4,000,000 9,600,000 REQUIRED: (a)$ Under the completed-contract method, what amount should Bill recognize as revenue for 2015? (b)$_ _Under the completed-contract method, what amount should Bill recognize as gross profit for 2015

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