On December 31, 2017, Tri-State Construction Inc. signs a contract with the state of West Virginia Department of Transportation to manufacture a bridge over the New River. State anticipates the construction will take three years. The companys accountants provide the following contract details relating to the project:

Contract price	$780 million
Estimated construction costs	$600 million
Estimated total profit	$180 million

During the three-year construction period, Tri-State incurred costs as follows:

2018	$ 60 million
2019	$360 million
2020	$180 million

Compute the revenue recognized, construction costs expensed, and income earned for each year using the cost-to-cost method.