Sonex Construction Co$.$ incurred the following costs and made the following estimates in the first two years of a three$-$year

construction project.

Year $1_Y$ear$2{?}_{(})$

Using the percentage of completion method of accounting, what amount would Sonex show as either a net current asset or a net

current liability as of the end of Year $2$ due to its construction activity?Sonex Construction Co$.$ incurred the following costs and made the following estimates in the first two years of a three$-$year construction project. Using the percentage$-$of$-$completion method of accounting, how much gross profit would Sonex recognize in Year $2?$

$[$ $ $1,000,000$; $ $562,500$; $ $800,000]$