Hardhat Construction Company has entered into a contract beginning January $1,2026$ to

build a parking complex. It was originally estimated that the complex will cost

$$700,000$ and will take three years to construct. The complex will be billed to the

purchasing company at $$950,000.$ Cost overruns will be paid for by Hardhat

Construction Company. The following data pertain to what actually happened during

the three year construction period.

Note that the $"$to date" amounts in the above table cumulate as you move from period to

period so you will need to do some subtraction if you are looking for a yearly amount.

A$.$ Using the percentage$-$of$-$completion method, compute the estimated gross

profit that would be recognized during each year of the construction period.

B$.$ Show the general journal entries that Hardhat would make in $2027$ ONLY