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Sheridan Construction Co. uses the percentage-of-completion method. In 2024 , Sheridan began work on a contract for $21300000; it was completed in 2025. The following

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Sheridan Construction Co. uses the percentage-of-completion method. In 2024 , Sheridan began work on a contract for $21300000; it was completed in 2025. The following cost data pertain to this contract: The amount of gross profit to be recognized on the income statement for the year ended December 31,2025 is $8516000.$2990000$3680000$3684000

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