current Attempt In Progress Whispering Construction Company has entered into a contract beginning January 1, 2017 to build a parking complex. It has been estimated that the complex will cost $599,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $905,000. The following data pertain to the construction period. Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2017 2018 2019 $257,570 $413,310 $609,000 341,430 185,690 -0- 270,000 551,000 905,000 240,000 501,000 905,000 (a) Using the percentage of completion method, compute the estimated gross profit that would be recognized during each year of the construction period. (If answer is 0. please enter O. Do not leave any fields blank.) Gross profit recognized in 2017 $ Gross profit recognized in 2018 $ Gross profit recognized in 2019 $ (b) Using the completed contract method, compute the estimated gross proht that would be recognized during each year of the construction period. (if answer is 0. please enter 0. Do not leave any fields blank.) Gross profit recognized in 2017 $ Gross profit recognized in 2018 $ Gross profit recognized in 2019 $ eTextbook and Media