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During 2020, Sheridan Company started a construction job with a contract price of $1,376,000. The job was completed in 2022. The following information is available.

During 2020, Sheridan Company started a construction job with a contract price of $1,376,000. The job was completed in 2022. The following information is available. The contract is non-cancellable.

2020 2021 2022
Costs incurred to date $344,000 $709,500 $920,200
Estimated costs to complete 516,000 236,500 0
Billings to date (non-refundable) 258,000 774,000 1,376,000
Collections to date 232,200 696,600 1,225,500

Calculate the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

2020 2021 2022
Gross profit / (loss) $enter a dollar amount $enter a dollar amount $enter a dollar amount

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