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On March 1. 2025, Crane Construction Company contracted to construct a factory building for Shamrock Manufacturing Inc. for a total contract price of $8,340,000. The

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On March 1. 2025, Crane Construction Company contracted to construct a factory building for Shamrock Manufacturing Inc. for a total contract price of $8,340,000. The building was completed by October 31, 2027. The annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to Shamrock for 2025,2026 , and 2027 are given below. Using the percentage-of-completion method, prepare a schedule to compute the profit or loss to be recognized as a result of this contract for the year ended December 31, 2026. (Ignore income taxes.) (If answer is 0 , please enter 0 . Do not leave any fields biank. Enter loss using either a negative sign preceding the number eg. - 45 or parentheses e.g. (45).)

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