Exercise 18-35 On April 1, 2017, Marin Inc. entered into a cost plus fixed ee contract to construct an electric generator for A tom Corporation. At e co rat date rin e mated that twould take 2 ears con e he rope at a co o LSA ?.me ed stipulated in the contract is $484,000. Marin appropriately accounts for this contract under the percentage-of-complation method. During 2017, Marin incurred costs of $695,600 related to the project. The estimated cost at Decamber 31, 2017, to complete the contrect is $1.184,400. Altom was billed $592.000 under the contract Prepare a schedule to compute the amount of gross profit to be recognized by Marin under the contract for the year ended December 31, 2017. Show supporting computations in good form. (If an amount reduces th ccont balance then enter with negative sign e.g. -45 or parentheses e.g. (45).,) MARIN INC. Computation of Gross Profit to be Recognized on Uncompleted Contract Year Ended December 31, 2017 Unplet. 20 96