Long-tem Cohtracts In 2017, Tarlo Company agrees to construct a highway for Brice County over a 3-year period (2017 through 2019). The contract price is $1,200,000, and the construction costs (both actual and estimated) total $705,000 for the 3 years. Tarlo's estimate of progress toward satisfaction of the performance obligation at the end of each year is as follows: 2017, 2096, 2018, 75%; 2019, 100%. Required: 1. Prepare a schedule showing the amount of gross profit that Tarlo recognizes each year assuming the performance obligation is determined to be satisfied over time. Tarlo Company Gross Profit: Percentage-of Completion Method 2017 through 2019 Amount 2017 2018 2019 Total gross profit