In spring $2024,$ Almond Joy Building Company signed a $$175$ million contract with the city of Newark, to construct a lab. Almond Joy expects to build it within two years and have expenses of $$125$ million. The city of Newark paid $$50$ million when the contract was signed, $$85$ million within the next six months, and the final $$40$ million exactly one year from the signing of the contract. Almond Joy incurred $$55$ million in costs during $2024$ and rest will be in $2025$ to complete the contract on time.

Using the cost$-$of$-$cost method put the revenue and expense that Almond Joy should recognize in $2024$ in the financial effects template.