Project #2-Percentage of Completion During 2017, Martinez Company started a construction job with a contract price of $1,580,000. The job was completed in 2019. The followin information is available. 2017 20182019 Costs incurred to date Estimated costs to complete Billings to date Collections to date $404,000$853,160 $1,073,000 606,000 254,840 301,000904,000 1,580,000 271,000 812,0001,418,000 Instructions 1. Complete a chart analyzing the above information showing revenue, the % of completion every year and the amount of gross profit to b recognized each year, assuming the percentage-of-completion method is used 2. Prepare all necessary journal entries for ALL 3 years: 2017, 2018, and 2019. 3. Compute the amount of gross profit to be recognized each year, assuming the completed-contract method is used