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on June 15, 2021, Sanderson construction entered into a long-term contract

On June 15, 2021, Sanderson Construction entered into D.C., for $220 million. The expected completion date is estimated costs to complete at year-end for the life of th Costs incurred during the year Estimated costs to complete as jf December 31 Required: 1. Compute the revenue and gross profil vill Sanderson assuming Sanderson recognizes enu time acco 2. Compute the revenue and derson assuming this project does not a ly for vcrue recog 3. Suppose the estimated costs to complete at the end a revenue and gross profit or loss to be recognized in 202 percentage of completion. Complete this question by antering your answers in Required 1 Required 2. Required 3 Suppose the estimated costs to complete at the end of 202 profit or loss to be recognized in 2022 using the percentage calculated and rounded in the table below to arrive at your Percentage Choose numerator Actual costs to date 2022 $ 120