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In 2024, KP Building Incorporated began work on a four-year construction project (called Cincy One). The contract price is $390 million. KP recognizes revenue on
In 2024, KP Building Incorporated began work on a four-year construction project (called Cincy One). The contract price is $390 million. KP recognizes revenue on this contract over time according to percentage of completion. At the end of 2024, the following financial statement information indicates the results to date for Cincy One: Required: Compute the following, placing your answer in the spaces provided and showing supporting computations below. Note: Round your percentage answer to the nearest whole number. Enter your answers in millions (i.e., 10,000,000 should be entered as 10)
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