OBrien Construction Company uses the percentage-of-completion method. One of its projects is being built for a local school for a contract price of $5,000,000. The three-year project is expected to be completed in 2020. The following information is available regarding this particular construction project for the first two years: 2018 2019Costs incurred during the year$ 500,000$ 700,000Estimated costs to complete1,500,000400,000Billings during the year2,000,0001,500,000Collections during the year2,000,0001,000,000

Calculate the Following:

2018 Revenue:

2019 Revenue:

2019 profit: