Question: Comolete for year 2 0 2 5 , 2 0 2 6 and 2 0 2 7 and include income statements On July 1 ,

Comolete for year 2025,2026 and 2027 and include income statements On July 1,2025, Oriole Construction Company Inc. contracted to build an office building for Winds Corp. for a total contract price of $1,880,000. On July 1,0 Oriole estimated that it would take between 2 and 3 years to complete the building. On December 31,2027, the building was deemed substantially completed. Following are accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Winds for 2025,2026, and 2027.
\table[[,At 12/31/25,At 12/31/26,At 12/31/27],[Contract costs incurred to date,$298,000,$1,194,000,$2,098,500],[Estimated costs to complete the contract,1,192,000,796,000,-0-],[Billings to Winds,300,000,1,100,000,1,820,000]]
(a2).
Using the percentage-of-completion method, prepare a schedule to compute the profit or loss to be recognized as a result of this contract for the year ended December 31,2026.(Ignore income taxes.)(If answer is 0, please enter 0. Do not leave any fields blank.)
2026
Comolete for year 2 0 2 5 , 2 0 2 6 and 2 0 2 7

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