Show calculations and explain.

Adler Construction Co. uses the percentage-of-completion method. In 2015, Adler began work on a contract for dollar 9, 600,000 and it was completed in 2017. Determine the Revenue, COGS and Gross Profit for 2015 and 2016. Adler's data on the costs are: Year Ended December 31 Costs incurred this year Estimated costs to complete Sales COGs Gross Profit 2015 dollar 3, 340,000 dollar 2, 960,000 dollar dollar dollar 2016 dollar 3, 280,000 dollar 1,000,000