Q1. Al-Duqum Construction Company has a contract to construct a OMR 4,500,000 bridge at an estimated cost of OMR 4,000,000. The contract is to start in July 2020, and the bridge is to be completed in October 2022. The following data pertain to the construction period. Details 2020 2021 2022 Costs to date OMR 2,000,000 OMR 2,916,000 OMR 4,050,000 Estimated costs to complete 2,000,000 1,134,000 Progress billings during the year 900,000 2,400,000 1,200,000 Cash collected during the year 750,000 1,750,000 2,000,000 Instructions: (a). Using the percentage-of-completion method for long-term contracts, compute the estimated gross revenue, gross profit that would be recognized during each year of the construction period