During 2020, Carla Company started a construction job with a contract price of $1,610,000. The job was completed in 2022. The following information is available. 2020 2021 2022 Costs incurred to date $366,300 $772.100 $1,063,000 Estimated costs to complete 623,700 330,900 -0- Billings to date 300,000 909,000 1,610,000 Collections to date 271,000 807,000 1,424,000 (a) Your answer is correct. Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2020 $ 229400 Gross profit recognized in 2021 $ 125500 Gross profit recognized in 2022 $ 192100 Account Titles and Explanation Debit Credit Construction in Process 405800 Materials, Cash, Payables 405800 (To record cost of construction.) Accounts Receivable 609000 Billings on Construction in Process 609000 (To record progress billings.) Cash 536000 Accounts Receivable 536000 (To record collections.) Construction in Process 125500 Construction Expenses 405800 Revenue from Long-Term Contracts 531300 (To recognize revenue.) Compute the amount of gross profit to be recognized each year, assuming the completed-contract method is used. 2020 2021 2022 Gross profit TA $ $ $ ta