blem 18-9 Your answer is partially correct. Try again. rla Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It en estimated that the complex will cost $594,000 and will take 3 years to construct. The complex will be b e purchasing company at $901,000. The following data pertain to the construction period. 20172018 2019 $255,420 $433,620 $604,000 osts to date stimated costs to complete Progress billings to date Cash collected to date 338,580 160,380 271,000 547,000 901,000 241,000 497,000 901,000 (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 o. Do not leave any fields blank.) Gross profit recognized in 2017 307,000 Gross profit recognized in 2018 10,232,310 Gross profit recognized in 2019 641,042,892 (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 hfant