Constructing and Assessing Income Statements Using Cost-to-Cost Method Assume General Electric Company agreed in May 2016 to construct a nuclear generator for NSTAR, a utility company serving the Boston area. General Electric Company estimated that its construction costs would be $360 million. The contract price of $450 million is to be paid as follows: $150 million at the time of signing; $150 million on December 31,2016 ; and $150 million at completion in May 2017. General Electric incurred the following costs in constructing the generator: $144 million in 2016 and $216 million in 2017. a. Compute the amount of General Electric's revenue, expense, and income for both 2016 and 2017, and for both years combined, under the costto-cost revenue recognition method