NETE Problemet. 09 (Part Level S ission) Pharoah Construction Inc., which has a calendar year end, has entered into a non cancelable foxed price contract for $2.7 million beginning September 1, 2020, to build a road for a municipality. It has been estimated that the road construction will be completely lune 2022. The following data pertain to the construction period. 2022 $2,264,000 Costs to date Estimated costs to complete Progress billings to date (non-refundable) Cash collected to date 2020 $776,000 1,649,000 348,000 675,000 2021 $1,642,800 577,200 2.214,000 2,077,000 2,700,000 2,700,000 (a) Ung the percentage of completion method, calculate the estimated gross profit that would be recognized during each year of the construction perod (Internative mountain the negative con receding the number orarenthes (45 ) 2020 2021 202) Gross profit/ (los) Attempts: 0 of 15 used SAVE FOR LATH S ET