Need Help With Part B

Wildhorse Construction Company has entered into a contract beginning January 1, 2025, to build a parking complex. It has been estimated that the complex will cost $595,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $903,000. The following data pertain to the construction period. (a) Your answer is correct. Using the percentage-of-completion method, compute the estimated gross profit that would be recognized during each year of the construction period. (If answer is 0 , please enter 0 . Do not leave any fields blank.) Gross profit recognized in 2025 \$ Gross profit recognized in 2026 \$ Gross profit recognized in 2027 \$ Your answer is correct. Using the percentage-of-completion method, compute the estimated gross profit that would be recognized during each year of the construction period. (If answer is 0 , please enter 0 . Do not leave any fields blank.) Gross profit recognized in 2025 \$ Gross profit recognized in 2026 \$ Gross profit recognized in 2027$ eTextbook and Media (b) Using multiple attempts will impact your score. Attempts: 1 of 2 used 15% score reduction after attempt 1 Using the cost-recovery method, compute the estimated gross profit that would be recognized during each year of the construction period. (If answer is 0 , please enter 0 . Do not leave any fields blank.) Gross profit recognized in 2025 \$ Gross profit recognized in 2026 \$ Gross profit recognized in 2027$