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During 2017, Ivanhoe Company started a construction job with a contract price of $1, 600,000. The job was completed in 2019. The following information is

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During 2017, Ivanhoe Company started a construction job with a contract price of $1, 600,000. The job was completed in 2019. The following information is available. Compute the amount of gross profit to be recognized each year, assuming the percentage-of completion method is used. Gross profit recognized in 2017 $ Gross profit recognized in 2018 $ Gross profit recognized in 2019 $

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