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On March 1 , 2 0 2 0 , Oriole Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total

On March 1,2020, Oriole Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,350,000. The building was completed by October 31,2022. The annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to Fabrik for 2020,2021, and 2022 are given below:
\table[[,2020,,2021,,2022],[Contract costs incurred during the year,$2,939,400,,$2,309,400,$2,041,200,],[Estimated costs to complete the contract at 1231,3,450,600,,2,041,200,-0-,],[Billings to Fabrik during the year,3,190,000,,3,480,000,1,680,000,]]
(a) Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31,2020,2021, and 2022.(Ignore income taxes.)(If answer Is O, please enter 0. Do not leave any fields blank. Enter loss using elther a negative sign preceding the number e.g.-45 or parentheses e.g.(45).)
2020
$
$
%
$
2021
$
$
$
$
2022?
$
2021?
$
\table[[$

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