During 2020 , Stellar Company started a construction job with a contract price of $1,580,000. The job was completed in 2022 . The following information is available. (a) Your answer is correct. Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2020$ Gross profit recognized in 2021 \$ Gross profit recognized in 2022$ Prepare all necessary journal entries for 2021. (Credit account tittes are automatically indented when amount is entered. Do no manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. For costs incurred use account Materials, Cash, Payables.) Compute the amount of gross profit to be recognized each year, assuming the completed-contract method is used