Refer to Practice 8-10. Assume that the company employs the efforts-expended method of estimating the percentage of

Question:

Refer to Practice 8-10. Assume that the company employs the efforts-expended method of estimating the percentage of completion. In particular, the company measures its progress by the number of support timbers laid in the trail. Compute the amount of revenue to be recognized in

(1) Year 1,

(2) Year 2, and

(3) Year 3.