Exercise 18-18

Berstler Construction Company began operations in 2014. Construction activity for the first year is shown below. All contracts are with different customers, and any work remaining at December 31, 2014, is expected to be completed in 2015.

Project		Total Contract Price		Billings through 12/31/14		Cash Collections through 12/31/14		Contract Costs Incurred through 12/31/14		Estimated Additional Costs to Complete
1		$599,200		$356,000		$332,000		$495,200		$137,800
2		690,000		215,000		204,000		121,000		443,000
3		521,000		508,000		502,200		382,000