Required information SB Problem [The following information applies to the questions displayed below. Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,740,000. The project was begun in 2017 and completed in 2018. Cost and other data are presented below: 2017 2018 Costs incurred during the year Estimated costs to complete Billings during the year Cash collections during the year $405,000 $1,040,000 945,000 475,000 1,265,000 375,000 1,420,000 Problem 5-286 Assume that Beavis recognizes revenue upon completion of the project. Required Compute the amount of gross profit recognized during 2017 and 2018. (Leave no cells blank-be certain to enter "O" wherever required.) Gross Profit 2017 2018