- On December 31, 2018, State Construction Inc. signs a contract with the state of West Virginia Department of Transportation to manufacture a bridge over the New River. State Construction anticipates the construction will take three years. The companys accountants provide the following contract details relating to the project:

Contract price $520 million (done)

Estimated construction costs $400 million

Estimated total profit $120 million

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

2019	$ 40 million
2020	$240 million
2021	$120 million

State Construction uses the percentage of completion method to recognize revenue.

How much revenue should State Construction recognize in

2019 __________________

2020 __________________

2021 __________________