On January 5, 2015, Miller Company agreed to construct a building at a contract price of $6,500,000. Miller estimated total construction costs would be $4,000,000 and the project would be finished in 2017. Information relating to the costs and billings for this contract is as follows: 2016 $2,200,000 1,800,000 4,200,000 3,750,000 2015 2017 Total costs incurred to date Estimated costs to complete Customer billings to date Collections to date $1,000,000 $4,700,000 3,000,000 2,900,000 2,600,000 5,500,000 5,000,000 24. Under long-term contract accounting, what are the gross profits Miller Company recognized in 2016 (round to the nearest dollar)? 25. Under long-term contract accounting, what are the gross profits Miller Company recognized in 2017 (round to the nearest dollar)