Exercise 6-23 (Algo) Income (loss) recognition; Long-term contract; revenue recognition over time vs. upon project completion [LO6-9] Brady Construction Company contracted to build an apartment complex for a price of $5,300,000. Construction began in 2021 and was completed in 2023. 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 2021 2022 2023 2021 Estimated Costs to Complete (As of the End of the Year) 2023 2022 1 1,530 2,220 990 3,210 990 2 1,530 990 2,520 3,210 2,520 3 1,530 2, 220 1,840 3,210 1,740 530 3,030 1,060 3,710 890 5 530 3,030 1,510 3,710 1,740 6 530 3,030 2,100 4,900 1,970 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.) Situation 1 2021 Gross Profit (Loss) Recognized Revenue Recognized Over Time 2022 2023 Revenue Recognized Upon Completion 2021 2022 2023 2