On February 1, 2020, Sunland Contractors agreed to construct a building at a contract price of $3,000,000. The total estimated construction costs would be $2,000,000 and the project would be finished in 2022. Information relating to the costs and billings for this contract is as follows: 2020 2021 2022 Total costs incurred to date 700,000 $ 1,212,300 $ 2,240,000 Estimated costs to complete 1,300,000 1,032,700 -0- Customer billings to date 1,100,000 2,000,000 3,000,000 Collections to date 1,000,000 1,750,000 2,950,000 Calculate the gross profit/ (loss) that should be recognized for 2020, 2021, and 2022 using the percentage completion method. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) 2020 2021 2022 350,000 $ Gross profit/(loss) (314,400) 760,000