On March 1, Year 1, Chance Company entered into a contract to build an apartment building (each number is expressed in thousands of dollars). The building has an estimated cost of $2,000, will take three years to complete and has a contract price of $3,000. Below is construction period information: A. Using the percentage-of-completion method, 1. calculate revenue, expense, and the estimated gross margin that would be recognized during each year of the construction period. 2. record all construction related journal entries, and 3. show the balance sheet presentation of all construction related accounts (namely, the balances in the receivables and inventory accounts). B. Using the completed-contract method, 1. calculate revenue, expense, and the estimated gross margin that would be recognized during each year of the construction period. 2. record all construction related journal entries. and 3. show the balance sheet presentation of all construction related accounts (namely, the balances in the receivables and inventory accounts)