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On February 1, 2017, Marsh Contractors agreed to construct a building at a contract price of $5, 700,000. Marsh estimated total construction costs would be

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On February 1, 2017, Marsh Contractors agreed to construct a building at a contract price of $5, 700,000. Marsh estimated total construction costs would be $3, 920,000 and the project would be finished in 2019. Information relating to the costs and billings for this contract is as follows: Fill in the correct amounts on the following schedule. For percentage-of-completion accounting and for completed-contract accounting, show the gross profit that should be recorded for 2017, 2018, and 2019

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