Shanahan Construction Company has entered into a contract beginning January 1, 2025, to build a parking complex. It is estimated that the complex will take 3 years to construct. Additional information follows. Estimated cost of complex Amount to be billed to the purchasing company The following data pertain to the construction period. $ 600,000 900,000 Costs to date Estimated costs to complete Progress billings to date Cash collected to date Instructions 2025 2026 2027 $ 270,000 $ 450,000 $ 610,000 330,000 150,000 270,000 550,000 900,000 240,000 500,000 900,000 a. Using the percentage-of-completion method, compute the estimated gross profit to be recognized during each year of the construction period. b. Using the completed-contract method, compute the estimated gross profit that would be recognized during each year of the construction period.