On March 1, 2020, Buffalo 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. Contract costs incurred during the year Estimated costs to complete the contract at 12/31 Billings to Fabrik during the year 2020 $2.939,400 3.450,600 3.190,000 2021 $2,309,400 2,041,200 3.480,000 2022 $2,041,200 -0- 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.) of answer iso, please enter 0. Do not leave any fields blank. Enter loss using either a negative sign preceding the number e.g. -45 or parentheses eg. (451) 2020 Costs to date(12/31/20) 2939400 Estimated Costs to Complete 3450600 Estimated Total Costs 6390000 Percent Complete 46 % Revenue Recognized 3341000 2020 Costs to date (12/31/20) $ $ 2939400 Estimated Costs to Complete 3450600 Estimated Total Costs LA 6390000 Percent Complete 46 % Revenue Recognized 2939400 i Profit/(Loss) Recognized in 2020 $ 901600 2021 Costs to date (12/31/21) $ Estimated Costs to Complete Estimated Total Costs $ 2021 Costs to date (12/31/21) $ Estimated Costs to Complete Estimated Total Costs Profit/(Loss) Recognized in 2021 V A 2022 Total Costs Incurred Profit/(Loss) Recognized in 2022 $ $ 2022 Total Costs incurred Total Revenue Recognized Less Profit Previously Recognized Profit/(Loss) Recognized in 2022 (b) Using the completed-contract 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 0, please enter 0. Do not leave any fields blank. Enter loss using either a negative sign preceding the number eg. -45 or parentheses es. (451) 2020 $ $ 0 2021 $ 0 2022 $