Exercise 5-21 Income (loss) recognition; Long-term contract; revenue recognition over time vs. upon project completion (LO5-9) Brady Construction Company contracted to build an apartment complex for a price of $6,300,000. Construction began in 2018 and was completed in 2020. The following is a series of independent situations, numbered 1 through 6, involving differing costs for the project. All costs are stated in thousands of dollars. Costs incurred During Year Situation 2018 2019 2020 1 1,630 2,520 1,290 2 1630 1,290 2,920 3 1,630 2,520 2,640 4 630 3,130 1,260 5 630 3,130 2.210 6 630 3,130 3,100 Estimated Costs to Complete (As of the End of the Year) 2018 2019 2020 3,810 1,290 3,810 2,920 3,810 2,540 4,410 940 4.410 2,540 5,855 2,870 III 11 Required: Complete the following table. (Do not round intermediate calculations. Enter answers in dollars. Round your final answers to the nearest whole dollar. Negative amounts should be indicated by a minus sign.) Answer is complete but not entirely correct. Gross Profit (Loss) Recognized Revenue Recognized Over Time Revenue Recognized Upon Completion 2018 2019 2020 2018 2019 2020 $ 257,684 OS 398,382 5 203,934 O S 860,000 257.684127.6841230.000 0 460.000 Suation