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 $6,200,000. 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 Estimated Costs to Complete (As of the End of the Year) Costs Incurred During Year Situation 2018 2019 2020 2018 2019 2020 11,620 2,490 1,260 3,750 1,260 2 1,620 1,260 2,880 3,750 2,880 3 1,620 2,490 2,560 3,750 2,460 4 620 3,120 1,240 4,340 935 5 620 3,120 2,140 4,340 2,460 6 620 3,120 3,000 5,755 2,780 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.) Gross Profit (Loss) Recognized Revenue Recognized Over Time Revenue Recognized Upon Completion Situation 201 8 2019 2020 2018 2019 2020 2 4 6