Sandhill Construction Inc., which has a calendar year end, has entered into a non-cancellable fixed-price contract for $2.6 million beginning September 1, 2023, to build a road for a municipality. It has been estimated that the road construction will be complete by June 2025. The following data pertain to the construction period. (a) Using the percentage-of-completion method, calculate the estimated gross profit that would be recognized during each year of the construction period. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round answers to 0 decimal places, e.g. 5,275.) Crane Enterprises Ltd. has entered into a contract beginning in February 2023 to build two warehouses for Windsor Structures Ltd. The contract is a non-cancellable fixed-price contract for $10 million. The following data pertain to the construction period (all figures in thousands). The construction industry has experienced significant expansion, making construction materials and labour more costly than originally estimated. Crane finds it extremely difficult to estimate the costs to complete construction and therefore difficult to estimate the percentage complete. It must account for the construction project using the zero-profit method. (a) Calculate the amount of the gross profit to be recognized each year of the contract. (Do not leave any answer field blank. Enter 0 for amounts. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) During 2023, Cullumber Corporation started a construction job with a contract price of $5.74 million. Cullumber ran into severe technical difficulties during construction but managed to complete the job in 2025 . The contract is non-cancellable. Under the terms of the contract, Cullumber sends billings as revenues are earned. Billings are non-refundable. The following information is available: (a) Your answer is incorrect. Calculate the amount of gross profit that should be recognized each year under the percentage-of-completion method. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)