PROBLEM TWO $-$ CONSTRUCTION ACCOUNTING $-25$ POINTS

At the beginning of $2024,$ the Johnson Construction Company received a contract to build an office buyer, and the project is estimated to the construction period according to a prearranged schedule. Information related to the contract is as follows:

$2024,2025,2026$

Construction costs incurred during the year $$1,500,000,$$$1,000,000$$$1,600,000$

$\backslash$table$[[$Construction costs incurred in prior years,$-0,1,500,000,2,500,000$