Homework #2 #6: Bow Tie Pathetic Industries (8 points) February 1, 2018, Bow Tie Pathetic Industries signed a contract with No Page 7 of 13 Deliver and install a computer network by February 28, 2018 Provide monthly technical services . Backbone Mig. Corp.to: The total contract price was $1,250,000 due in full at the time of the Installation on 5e Pathetic Industries estimated that of the $1,250,000 computer network with the remaining $75,000 relating to the maintenance on the network for one year beginning on March 1, 2018 Bow total contract price, $1,175,000 related to the Bow Tie Pathetic Industries delivered and installed the computer network Pathetic Industries received a check for $1,250,000 from No required under the contract. and repairs services. Bow Tle Backbone Mig. Corp, on February 28, 2018 as on February 28, 2018. Bow Tie Pathetic Industri 1, 2018 through February 28, 2019 as required by the contract. es performed the monthly technical services on the network beginning on March (2 points per box- 8 points) 2019 2018 a) How much sales revenue was Bow Tie Pathetic Industries allowed to recognize from the contract with No Backbone Mfg. Corp. in its 2018 and 2019 GAAP comprehensive income statements? (2 points) No b) How much technical services revenue was Bow Te Pathetic Backbone Mfg. Corp. in its 2018 and 2019 GAAP comprehensive income statements? (4 points) Industries allowed to recognize from the contract SUPPORTING COMPUTATION REQUIRED: revenue from No Backbone Mfg. Corp.in its GAAP balance sheet at December 31, 2018? (2 points) What amount did Bow Tie Pathetic Industries report as deferred c) SUPPORTING COMPUTATION OR BRIEF EXPLANATION REQUIRED