III. Stackum and Buildum Construction Co. received a contract for $6,500,000 to build an addition to Gama's manufacturing facility. The contract starts in January of 2020 and is complete by December of 2022. The following data was accumulated during the life of the contract: 2020 Cost to date Estimated cost to complete 2021 1,800,000 3,100,000 5,600,000 2,700,000 1,900,000 2022 0 Billings to date Collections to date 2,000,000 4,000,000 6,000,000 1,500,000 3,500,000 6,000,000 Stackum and Buildum uses the Percentage-of Completion method to account for contracts of this size. A. Prepare a gross profit analysis for 2020, 2021, and 2022. B. Prepare the entries necessary to account for this contract for the year of 2020