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 $6,800,000. 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 1 1,680 2,670 1,440 2 1,680 1,440 3,120 3 1,680 2,670 3,040 4 680 3,180 1,360 5 680 3,180 2,560 6 680 3,180 3,600 Estimated Costs to Complete (As of the End of the Year) 2021 2022 2023 4,110 1,440 3,120 4,110 2,940 4,760 965 4,760 2,940 6,355 3,320 4,110 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 2021 2022 2023 2021 2022 2023 Situation 1 2 3 4 5 6