Question Completion Status: Nahla Company uses the percentage-of-completion method of accounting for long-term construction contracts. During 2015, Nahla began work on a construction contract that generates revenue of AED 5,600,000 and which is due to be completed in 2017. The accounting records shows the following information at year-end: 2015 2016 2017 Contract costs incurred during the year 600,000 2,000,000 2,000,000 Estimated costs to complete as of year end 3,400,000 1,800,000 -0- Billings during the year 900,000 1,600,000 3,100,000 Cash collections during the year 600,000 1,200,000 3,800,000 Required: a.Compute the percentage of completion for 2015, 2016 und 2017.3 marka