Waterway Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It has been estimated that the complex will cost $600,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $902,000. The following data pertain to the construction period. 2017 Costs to date Estimated costs to complete Progress billings to date Cash collected to date $294,000 306,000 268,000 238,000 2018 $432,000 168,000 547,000 497,000 2019 $608,000 -0- 902,000 902,000 (a) Using the percentage-of-completion method, compute the estimated gross profit that would be recognized during each year of the construction period. (If answer is 0, please enter 0. Do not leave any fields blank.) Gross profit recognized in 2017 147980 Gross profit recognized in 2018 217440 $ X Gross profit recognized in 2019 294000 (b) Using the completed-contract method, compute the estimated gross profit that would be recognized during each year of the construction period. (If answer is 0, please enter 0. Do not leave any fields blank.) Gross profit recognized in 2017 X Gross profit recognized in 2018 ill X Gross profit recognized in 2019