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Martinez Construction Company has entered into a contract beginning January 1, 2020, to build a parking complex. has been estimated that the complex will cost

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Martinez Construction Company has entered into a contract beginning January 1, 2020, to build a parking complex. has been estimated that the complex will cost $601,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $903,000. The following data pertain to the construction period. Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2020 $270,450 330.550 273,000 243,000 $492.820 108,10 550.000 500,000 903,000 903,000 (a) using the percentage of completion method, compute the estimated gross profit that would be recognized during each year of the construction period. (If answer is Do not leave any fields blank.) please entero Cres profit recognized in 2020 Gross profit recognized in 2021 Gross pro recognized in 2022 (b) using the completed contract method, comput leave any blank.) gedoring each w h erection period. I hver is please entero. Da net Gross profit necognized in 2020 Gross profit recognized in 2021 Gross proft recognuedin 2022

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