On July $1,2025,$ Wildhorse Construction Compary Inc. contracted to build an office building for Sheffield Corp. for a total contract

price of $$1,920,000.$ On$.$ July $1,$ Wildharse estimated that it would take between $2$ and $3$ vears to complete the building. On December

$31,2027,$ the building was deemed substantially completed. Following are accumulated contract costs incurred, estimated costs to

complete the contract, and accumulated billings to Sheffield for $2025,2026,$ and $2027.$

$($a$1)$

$($a$2)$

$($a$3)$

$($b$1)$

Using the cast$-$recavery method, prepare schedules to compute the profit or lass to be recognized as a result of this contract for

the years ended December $31,2025.($Ignore income tawes.$)($If answer is $0,$ plesse enter $0.$ Do not leave any fields blank.$)$

$2025$$

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Attempts: $0$ of $5$ used

$($b$2)$

Using the cost$-$recavery method, prepare a schedule to compute the profit or lass to be recognized as a result of this contract for

the years ended December $31,2026.($Ignore income tawes.$)($If answer is $0,$ please enter $0.$ Do not leave any fields blank.$)$

eTextbook and Media

Attempts: $0$ of $5$ used

$($b$3)$

Using the cost$-$recovery method, prepare a schedule to compute the profit or lass to be recognized as a result of this contract for

the years ended December $31,2027.($Ignore income tawes.$)($If answer is $0,$ plesse enter $0.$ Do not leave any fields blank.$)$