Strong Guard Co. contracted to build a bridge for $8,750,000. Construction began in 2024 and is expected to be completed in 2026. Data for 2024 and 2025are: 2024 2025 Costs incurred to date $1,125,000 $3,250,000 Estimated costs to complete 4,500,000 3,000,000 Strong Guard Co. uses the percentage-of-completion method. Instructions (1) How much gross profit should be reported for 2024? Show your computation. (2) How much gross profit should be reported for 2025? Show your computation. (3) Make the journal entry to record the revenue and gross profit for 2025. (4) If Strong Guard Co. uses completed-contract accounting, show the gross profit that should be recorded for 2024 and 2025