During 2020, Marigold 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 $383,800 $905,280 $1,063,000 Estimated costs to complete 626,200 198,720 -0- Billings to date 302,000 896,000 1,610,000 Collections to date: 271,000 817,000 1,419,000 (a) Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2020 $ Gross profit recognized in 2021 $ Gross profit recognized in 2022 $ Save for Later Attempts: unlimited Submit