During 2025, Blossom Company started a construction job with a contract price of $1,590,000. The job was completed in 2027. The following information is available. Costs incurred to date Estimated costs to complete Billings to date Collections to date (a) $366,300 Gross profit recognized in 2025 2025 Gross profit recognized in 2026 623,700 297,000 Gross profit recognized in 2027 270,000 2026 tA $831,440 262,560 894,000 816,000 O 2027 $1,067,000 Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. -0- 1,590,000 1,417,000

During 2025, Blossom Company started a construction job with a contract price of $1,590,000. The job was completed in 2027 . The following information is available. (a) Compute the amount of gross profit to be recognized each year, assumingfthe percentage-of-completion method is used Gross profit recognized in 2025 Gross profit recognized in 2026 Gross profit recognized in 2027