Question: Blossom Construction entered into a contract to construct a bridge for a contract price of $2.70 million. Construction began in 2019 and was completed in

Blossom Construction entered into a contract to construct a bridge for a contract price of $2.70 million. Construction began in 2019 and was completed in 2021. Below are the details of the transactions related to the contract: Costs incurred during the year Estimated costs to complete 2019 2020 2021 $627,000 $840,000 $715,900 1,379,400 533,000 0 Calculate the revenue, expenses and gross profit to be recognized each year using the percentage-of- completion method. (Round the percentage completion to 2 decimal places, e.g. 52.75% and other answers to 0 decimal places, e.g. 1,525.) 2019 2020 2021 Revenue Expenses Gross Profit
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