List of Accounts for boxes above:

Accounts Receivable

Advertising Expense

Allowance for Sale Returns and Allowances

Billings on Construction in Process

Cash

Commission Expense

Construction in Process

Construction Expenses

Costs of Goods Sold

Cost of Installment Sales

Deferred Gross Profit

Delivery Expense

Discount on Notes Receivable

Estimated inventory Returns

Freight-out

Gain on Repossession

Income Summary

Installment Accounts Receivable

Installment Sales Revenue

Inventory

Inventory on Consignment

Loss from Long-Term Contracts

Loss on Repossession

Materials, Cash, Payables

No Entry

Notes Receivable

Operating Expenses

Parts Expense

Purchases

Realized Gross Profit

Rent Revenue

Repossessed Merchandise

Retained Earnings

Returned Inventory

Revenue from Consignment Sales

Revenue from Franchise Fees

Revenue from Long-Term Contracts

Sales Discounts

Sales Discounts Forfeited

Sales Returns and Allowances

Sales Revenue

Service Revenue

Unearned Franchise Fees

Unearned Sales Revenue

Unearned Service Revenue

Unearned Rent Revenue

Unearned Warranty Revenue

Warranty Expense

Warranty Liability

On July 1, 2020, Marin Construction Company Inc. contracted to build an office building for Gumbel Corp. for a total contract price of $1,890,000. On July 1. Marin estimated that it would take between 2 and 3 years to complete the building. On December 31 , 2022 , the building was deemed substantially completed. Following are accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Gumbel for 2020, 2021, and 2022. (a) Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020, 2021, and 2022. (Ignore income taxes.) (If answer is 0, please enter 0. Do not leave any field blank. If an amount should be deducted then enter the amount using either a negative sign prececeding the number e.g. 45 or parenthesis e.g. (45).) 2021 $ $ $ $ 2022 $ $ $ (b) Using the completed-contract method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020, 2021, and 2022. (Ignore income taxes.) (If answer is 0 , please enter 0 . Do not leave any fields blank. If an amount should be deducted then enter the amount using either a negative sign prececeding the number e.g. - 45 or parenthesis e.g. (45).)