the last question like this that i posted the answers were wrong. i wanted to post this question once more.

Curtiss Construction Company, Inc entered into a fixed price contract with Axelrod Associates on July 1, 2021, to construct a four-story office building. At that time, Curtiss estimated that it would take between two and three years to complete the project. The total contract price for construction of the building is $4060 000. The building was completed on December 31, 2023 Estimated percentage of completion accumulated contract costs incurred, estimated costs to complete the contract, and accumulated bilings to Axelrod under the contract were as follows Percentage of completion Costs incurred to date Estimated costs to complete 8111ings to Axelrod, to date At 12-21-2021 10x $36.000 1, 240,000 721.000 At 12-31-2032 AT 12-01-2023 60% 100% $2,562,000 $4,321,000 1,709,000 2,190,000 4,060,000 Required: 1. Compute gross profit or loss to be recognized as a result of this contract for each of the three years. Curtiss concludes that the contract does not qualify for revenue recognition over time 2. Assuming Curtiss recognizes revenue over time according to percentage of completion, compute gross profit or loss to be recognized in each of the three years 3. Assuming Curtiss recognizes revenue over time according to percentage of completion, compute the amount to be shown in the balance sheet at the end of 2021 and 2022 as either cost in excess of billings or billings in excess of costs Complete this question by entering your answers in the tabs below.