Tamarisk Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It has been estimated that the complex will cost $601,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $903,000. The following data pertain to the construction period.

		2017		2018		2019
Costs to date		$270,450		$492,820		$613,000
Estimated costs to complete		330,550		108,180		0
Progress billings to date		273,000		550,000		903,000
Cash collected to date		243,000		500,000		903,000

(a) Using the percentage-of-completion method, compute the estimated gross profit that would 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