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Grouper Construction Company has entered into a contract beginning January 1. 2020, to build a parking complex. it has been estimated that the complex will

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Grouper Construction Company has entered into a contract beginning January 1. 2020, to build a parking complex. it has been estimated that the complex will cost $598,000 and will take 3 years to coristruct. The complex will be bilied to the purchasing company at $897,000. The following data pertain to the construction period. (a) Using the percentage of-completion method, compute the estimated gross profit that would be recognized during each year of the constructioti period. (ff answer is 0 , please enter 0 . Do not ieave any fields blank) (b) Using the completed-contract method, compute the estimated gross profit that would be recognized during each year of the constructian period. (If answer is 0 , please enter 0 . Do not leave any fields blank) Gross profit recognized in 2020 Gross profit recognized in 2021 5 Gross profit recognized in 2022

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