On March 1, 2020, Riverbed Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,420,000. 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 $3,126,200 3,253,800 3,190,000 2021 $1,831,000 2,332,800 3,530,000 2022 $2,332,800 -0- 1,700,000 (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 either a negative sign preceding the number eg.-45 or parentheses 0.3 (45 2020 Costs to date(12/31/20) V 3126200 Estimated Costs to Complete 3253800 Estimated Total Costs $ 6380000 Percent Complete 49 % Revenue Recognized $ 4125800 Costs incurred 3126200 Proh/Loss) Recognized in 2020 $ 999600 2021 Costs to date 12/31/01) 4957200 Ested Costs to complete 2332800 720000 2021 Costs to date (12/31/21) 4957200 Estimated Costs to Complete 2332800 Estimated Total Costs $ 7290000 Percent Complete 68 Revenue Recognized in 2021 $ 1599800 Costs incurred in 2021 1831000 Prot/(Loss) Recognized in 2021 $ -231200 2022 Total Revenue Recognized 8420000 Total Costs incurred 7290000 Total Proton Contract 1130000 Pront Previously Recognized 760400 Prot/Low Recognized in 2022 361600 68 % Percent Complete 1599800 Revenue Recognized in 2021 1831000 Costs incurred in 2021 -231200 Proh/(Loss) Recognized in 2021 2022 8420000 Total Revenue Recognized 7290000 Total Costs incurred 1130000 Total Profit on Contract 768400 Less : Pront Previously Recognised 361600 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 or his contract for the years ended December 31, 2020, 2021, and 2022. Ignore income taxes.) (if answer is a please enter Q. Do not leave any fields blank. Enter loss using either a negative sign preceding the number 3.-45 or parentheses es (451) 2020 $ 8420000 2021 $ 7290000 2022 $ 1130000 Attempts: 2 of 6 used Subinit Anti