Young Tree Construction Company uses the percentage-of-completion method of accounting. In 2017, Young Tree began work under a contract with a contract price of $1,500,000. Other details follow: 2017 2018 Costs incurred during the year $980,000 $1,375,000 Estimated costs to complete, as of December 31 420,000 0 Billings during the year 800,000 1,500,000 Collections during the year 250,000 1,500,000 (1) How much revenue should be reported for 2017? Show your computation. (2) How much revenue should be reported for 2018? Show your computation.