On 1 January 2013, Keith Pte Ltd, a Singapore-incorporated construction company, was awarded the contract to construct a financial hub for $1 million with completion date to be on 31 December 2015. The total estimated cost at the start of the construction was $800,000. While at the end of 2014, the total cost had increased to $1,100,000. The contract included a clause for early-incentive payment of 10% of the contract price if the financial hub is completed 6 months before expected date of completion. Details relating to the project are as follows: 2013 $ 000 Actual costs incurred for the year 300 Cumulative progress billings 400 Cash collected during the year 200 The financial hub was completed on 30 April 2015. 2014 $ 000 150 600 400 2015 $ 000 500 1,000 300 Keith Pte Ltd has a 31 December financial year-end. Required (a) (b) Calculate construction revenue, construction cost and construction gross profit for the years 2013 to 2015 for Keith Pte Ltd.(Round your answers to the nearest $'000) Prepare all necessary journal entries from 1 January 2013 to 31 December 2015 to record the construction contract in the books of Keith Pte Ltd. (Note: Narrations are not required. Round your answers to the nearest $'000)