Performance Obligation Fulfilled Over Time Philbrick Company signed a three year contract to develop custom sales training materials and provide training to the employees of Elliot Company. The contract price is $1,300 per employee and the number of employees to be trained is 500. Philbrick can send a bill to Elliot at the end of every training session. Once developed, the custom training materials will belong to Elliot Company, but Philbrick does not consider them to be a separate performance obligation The expected number to be trained in each year and the expected development and training costs follow Development Number of and training employees costs incurred 2019 150 575.000 2020 250 90.000 2021 100 40.000 Total 500 $205.000 Fur each year, compule the revenue, exuense, and gross profil reporteu assuming revenue is recognized over time using... 1. the number of employees trained as a measure of the value provided to the customer. Note: Round answers to the nearest dollar. Year 2019 2020 2021 Total Revenues $ $ Expenses Gross Prof: $ $ S 2. the cost incurred as a measure of the value provided to the customer. Note: For your Revenue answers, use an unrounded percentage completed factor, and then round your final answer to nearest dollar. Year 2019 2020 2021 Total Revenues Excenses Gross profit $ $ S