1. R. Wayne Computer Consultants, Corp. develops and installs integrated computer systems and networks for large utilities. On January 2, 2022, the company signed a contract to deliver an electricity deployment system for a grid covering three New England States. The contract paid R. Wayne is a fixed fee of $18,000,000. Wayne Computer Consultants uses the percentage-of-completion method (cost-to-cost approach) to report its long-term contracts. Other selevant information related to the contract is presented in the following table. Required: a) Compute the gross profit and revenue to be recognized each year of the contract. b) Prepare the journal entries required for each year of the contract. c) Prepare the t-accounts for construction in progress (CIP), billings on construction in progress, and accounts receivable. d) Determine the net asset (liability) for each year of the contract on December 31 ( 30 points)