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Vermont Cabin Construction Company uses the percentage-of-completion method on a three-year project with the cost-to-cost method of measuring progress. Compute the percent completed and the

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Vermont Cabin Construction Company uses the percentage-of-completion method on a three-year project with the cost-to-cost method of measuring progress. Compute the percent completed and the amount of revenue and gross profit to be recognized for each year based on the following information. (Click the icon to view the contract information.) Next compute the amount of revenue and gross profit to be recognized for each year (Enter "0" for any zero amounts. Enter the percentages to the nearest whole percent) Contract price $700,000 2022 2023 2024 Actual construction costs incurred during the year \$ 140,000$130,000$160,000 Estimated total costs $400,000$360,000$430,000 lext compute the amount of revenue and gross profit to be recognized for each year. (Enter " 0 " for any zero amounts. Enter the ercentages to the nearest whole percent)

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