Tozer construction company contracted with the Moncton airport authorities to construct a new runway at the Moncton international airport 38000,000.Tozer's accounting year ends on December 31.work begun under the contact on July 1,2016 and was just completed on the 9th of October 2018 .constrction activities are summarized below by year :

2016. 2017

construction costs incurred in current year 14,4000,000. $72,000,000

additional estimated costs to complete 49,600,000. 16,800,000

progress Billings 12,000,000 18,000,000

cash received 11,200,000 15,200,000

Tozer recognizes revenue on a percentage -of -completion basis , using costs for estimating the appropriate percentage completed .

determine the amount of revenue and gross profit that Tozer construction company recognized in 2016 and 2017 respectively