On June 15, 2018, Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington, D.C, for $220 million. The expected completion date is April 1, 2020, just in time for the 2020 baseball season. Costs incurred and estimated costs to complete at year-end for the life of the contract are as follows (S in millions) 2018 2019 2020 $40 $80 $se Costs incurred during the year Estieated costs to complete as of December 31 120 60 3. Suppose the estimated costs to complete at the end of 2019 are $80 million instead of $60 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Suppose the estimated costs to complete at the end of 2019 are $80 million instead of $60 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method. (Enter your answers in millions use.percentages as calculated and rounded in the table below to arrive at your final answer.). Percentages of completion Choose numerator Choose denominator |-| % complete to date 2019 To date Recognized in prior Years Recognized in 2019 Construction revenue Construction expense Gross profit (loss)