Question: Constructing and Assessing Income Statements Using Cost - to - Cost Method On March 1 5 , 2 0 1 2 , Frankel Construction contracted

Constructing and Assessing Income Statements Using Cost-to-Cost Method
On March 15,2012, Frankel Construction contracted to build a shopping center at a contract price of $120 million. The schedule of expected (which equals actual) cash collections and contract costs foll. millions):
\table[[Year Cash Collections,Cost Incurred,],[2012,$30,$15
Constructing and Assessing Income Statements Using Cost-to-Cost Method On March 15,2012,

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