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Wildhorse Construction, which follows ASPE entered into a contract to construct a bridge for a contract price of $ 25 million. Construction began in 2019

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Wildhorse Construction, which follows ASPE entered into a contract to construct a bridge for a contract price of $ 25 million. Construction began in 2019 and was completed in 2021. Below are the details of the transactions related to the contract: 2019 2020 2021 Costs incurred during the year $665,000 $844,000 $681,900 Estimated costs to complete 1,521,000 701,000 0 Calculate the gross profitto be recognized each year using the completed contract method. 2019 2020 2021 Revenue Expenses Gross Profit

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