Natalie Networks Incorporated (NNI) accepts a fixed-fee contract to develop and implement a communications network for Summit Sound Systems. NNI accepts a fixed fee of $18,600 and must complete the project within three years. NNI uses the percentage-of-completion method of accounting, determining the percent complete using the cost-to-cost approach. Costs incurred and estimated total costs are summarized in the table below: (Click the icon to view the costs incurred and estimated total costs.) Determine the amount of gross profit that NNI will report in each of the three years. (Enter the percentages to the nearest whole number. Enter "0" for any zero amounts.) First, compute the percentage of completion for each year. 2018 2019 2020 Cumulative percent complete % % % * Contract Information - X 2018 2019 2020 S 3,000 S 10.000 Actual costs incurred during the year Actual costs incurred in previous years Estimated costs to complete Estimated total costs 0 12,000 1,500 S 3,000 5,500 4,500 0 S 15,000 S 10,000 S 14,500 Print Done