very similar questions

A construction company entered into a fixed-price contract to build an office building for $26 million. Construction costs incurred during the first year were $6 million and estimated costs to complete at the end of the year were $9 million. How much revenue will appear in the company's income statement in the first year using the percentage-of-completion method? (Enter your answer in whole dollars.) evenue How much gross profit or loss will the company recognize in the first year using the percentage-of- completion method? (Enter your answer in whole dollars.)