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During 2017, Skysong Company started a construction job with a contract price of $1,620,000. The job was completed in 2019. The following information is available.
During 2017, Skysong Company started a construction job with a contract price of $1,620,000. The job was completed in 2019. The following information is available. 2017 2018 2019 Costs incurred to date Estimated costs to complete Billings to date Collections to date $383,800 $850,200 $1,074,000 626,200 239,800 00,000 899,000 1,620,000 267,000 816,000 1,429,000 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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