On June 15,2018 , Sanderson Construction entered into a long-term construction contract to build a baseball sts. dium in Washington, D.C., for $220 million. The expected completion date is April 1, 2020, just in time for tie 2020 baseball season. Costs incurred and estimated costs to complete at year-end for the life of the contract ares follows ( $ in millions): Required: 1. How much revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements relaticl to this contract assuming Sanderson recognizes revenue over time according to percentage of completion? How much revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming this project does not qualify for revenue recognition over time