Cosmo Computer Consultants (CCC) signed a contract in 2022 to develop a computer network system for Platinum Entertainment. Cosm uses the percentage-of-completion method and determines its measure of progress using the cost-to-cost approach The firm provided th following information for 2022 (Click the icon to view the contract information) Compute the percentage completed, gross profit recognized, and the amount of the revenue recorded in 2022. Contract price $85,000 2022 Actual construction costs incurred during the year Estimated total costs $12,000 Progress billings made during $60,000 the year Cash collections during the year $30,500 $25,000 Select the formula and enter the amounts into the table below to compute the percentage completed (Round your answer to the nearest whole percent) ext, calculate the gross protit recognized, and the amount of the revenue recorded in 20Z2 (tnter 2 tor any zero amounts tnter the ercentage to the nearest whole percent)