Group4's Names: Brady Construction Company contracted to build an apartment complex for a price of E5-11 $7,000,000. Construction began in 2006 and was completed in 2008. The following are Income a series of independent situations, numbered 1 through 6, involving differing costs for recognition (loss) the project. All costs are stated in thousands of dollars. percentage Estimated Costs to Complete -of- Costs Incurred During Year (As of the End of the Year) completion and Situation 2006 2007 2008 2006 2007 completed 2008 contract 1 1,500 2.100 900 3,000 methods 2 1,500 900 2.400 3,000 2,400 compared 3 1,500 2,100 1,600 LO4 3,000 1,500 4 500 3,000 1,000 3,500 875 500 3,000 1,300 3,500 1,500 6 500 3,000 1.800 4,600 1,700 Required: 900 un Determine the Gross Profit using the percentage of completion method