Question 1: tsraiof On January 1, 201?, The lsraBlof Company signed a contract to transfer the Chinese Wall to the middle of Wall Street. The project was completed in three years. The following table provides for the expenses incurred by the constructor, A2, in each of the three years, the amounts acmally paid in cash by A2 in each of the years, the billings to the buyer, BdB, in each of the years and, finally, actual collections from BdB. Estimated and actual costs and collections were identical. penses '30- In eas -y o ecte- um Year Billed to BdB incurred by A2 AZ 3113 $24,000,000 $35,000,000 $25,000,000 m $15,000,000 $55,000,000 $50,000,000 m $40,000,000 $10,000,000 $15,000,000 Required: :1. Prepare an income statement forAZ for each of the three years if it adopted: (1) the percentage of completion method (where costs are used to estimate progress); (ii) the installment method; (iii) the cost recovery method; and {iv} the completed contract method. b. Provide the journal entries recorded by AZ during 21? if it adopted the percentage of completion method. What was the balance of the account, mWall on Wall Street,\" on December 31, 201