Dynamic Berhad entered into a contract to build a tunnel. The initial amount of revenue agreed is RM440 million. At the beginning of the contract on 1 January 2015, the initial estimate of the contract costs was RM400 million. At the end of 2015, the estimate of the total costs rose to RM404 million. During 2016, Dynamic Berhad agreed to a variation which increases expected revenue from the contract by RM10 million. At the end of 2016, there are materials stored on site for use during the following period which cost RM5 million. It has been decided to determine the stage of completion of the contract by calculating the proportion of contract costs incurred for work to date compared to the latest estimated total contract costs. The contract costs incurred at the end of each year were as follows: 2015 RM 105,040,000 2016 (RM) 2017 RM 274,700,000 410,000,000 Costs incurred to date (including materials in store 135,300,000 costs 298,960,000 Required: Calculate the stage of completion for each year of the contract and show how revenues, costs and profits will be recognised in each year. (15 marks)