Question 1 During 2011'. Flounder Ccln'ipanjlr started a construction jobwith a contract price of $1.5Ei.. The iolo 'was completed in 2019. The following information is available. C osts incurred to date $38 3. son EDEBBE $1.i}}'0.i] [ID Estimated costs to co mplete E 26. 200 293.6 2U i:} Billings to date 29?. DUI] 39 5.0 [I LSBDJJ DD Collections to date ETLDi] Bill 1.433.0 [e1 Your answer is correct. Compute the amount of gross prot to be recognized each year. assuming the percentageof- completion method is used. $ WT $ 1W $ [ET Gross prot recognized in Hill? Gross prot recognied in 21\".}13 Gross prot recognized in 211119