Intermediate Accounting! (Ch.5)-Income measurement and Profitability Analysis Assignment Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,800,000. The project was begun in 2012 and completed in 2013. Cost and other data are presented below: 2012 2013 Costs incurred during the year $ 450.000 $1 400.000 Estimated costs to complete 1,000,000 Bling costs to complete 400,000 1,400.000 Cash collections during the year 300,000 1 400.000 2. Prepare Statement of Financial Position end of 2012 and 2013(if any), under Percentage-of-completion method, Cost recovery method and Completed- contract method. Intermediate Accounting! (Ch.5)-Income measurement and Profitability Analysis Assignment Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,800,000. The project was begun in 2012 and completed in 2013. Cost and other data are presented below: 2012 2013 Costs incarred during the year 550.000 $1.400.000 Estimated costs to complete 1,050,000 Bling costs to complete 400.000 1.450.000 Cash collections during the you 300,000 1400.000 Instructions 1. Prepare all entries for 2012 and 2013 for Marcos under Percentage-of-completion method, Cost recovery method and Completed-contract method. 2. Prepare Statement of Financial Position end of 2012 and 2013(if any), under Percentage-of-completion method, Cost recovery method and Completed- contract method. 1