G

On February 1, 2000, Neer contractors agreed to construct a building at a contract price of $6,000,000. Neer estimated total construction costs would be $4,000,000 and the project would be finished in 2002. Information relating to the costs and billings for this contract is as follows: Fill in the correct amounts on the following schedule. For percentage-of-completion accounting and for completed-contract accounting, show the gross profit that should be recorded for 2000, 2001, and 2002