In 2017, the Big Construction Company entered into a contract to construct a bridge for the local government for $35,000,000. The bridge was completed in 2019. Information related to the contract is as follows: Big Construction Company Contract Financial Information Through 2019 2017 2018 2019 Cost incurred during the year $ 8,000,000 $12,500,000 $15,000,000 Estimated costs to complete as of year-end 24,000,000 15.500.000 Required: 1. Assume that Big Construction Company recognizes revenue over time according to percentage of completion. Using the cost information above, calculate the amount of revenue and gross profit to be recognized in each of the three years. 2. Assume that Big Construction Company does not quality for revenue recognition over time and recognizes revenue lipon project completion. Using the cost information above, calculate the amount of revenue and gross profit to be recognized in each of the three years. Enter your answers below. hulu prime video Oo CS 3:56