three years. Costs incurred, estimated total costs, billings, and cash collections are summarized in the following table: (Click the icon to view the contract information.) (Click the icon for additional information.) Read the requirement. Begin by completing the table below. (Use parentheses or a minus sign for a loss.) Contract Information The arrangement meets the criteria for recognizing revenue over time, and Calloway Builders uses the percentage-of-completion method of accounting. It determines percent complete using the percentage of the square feet that it has completed. The strip mall will be a total of 38,000 square feet. The table below summarizes the square footage completed each year: Cumulative square feet completed 15,200202228,500202338,0002024