PLEASE DO ALL REQUIREMENTS

Tammy Network Consultants, Incorporated uses the percentage-of-completion method to account for its long-term contracts. It uses the cost-to-cost approach to measure progress. During the current year, Tammy signed a contract to develop a computer network for an international accounting firm. Information related to the contract is presented below. (Click the icon to view the contract information.) Read the requirements. Requirement a. Compute the percentage-of-completion for each year. (Round the percentages to the nearest hundredth percent, X.XX\%.) Requirements a. Compute the percentage-of-completion for each year. b. Compute the gross profit and revenue to be recognized each year of the contract. c. Prepare the journal entries required for each year of the contract. d. Prepare the t-accounts for construction in progress, billings on construction in progress, and accounts receivable. e. Determine the net asset (liability) for each year of the contract on December 31. Data table