D Bewenue Recognition Percentage of Completion Method, Current Year Como Computer Consultants (CCC) signed a contractin 2018 to develop a computer network system for Platinum Entertainment. Como uses the percentage of completion method and determines its measure of propres using the cost to cost approach. The firm provided the following information for 2018. Contract Price Actual construction costs incurred during the year Estimated total costs Progress billings made during the year Cath collections during the year $85,000 2018 $12.000 60,000 30.500 25.000 Use the blue shaded areas on the ENTERANSWERS tab for inputs - Always use call references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong Requirement 7 Compute the percentage completed, gross profit recognized, and the amount of the revenue recorded in 2018 PROTECTED VIEW en from the Internet con contain you red to deater than Wetected D 1 Compute the percentage completed, gross profit recognized, and the amount of the revenue recorded in 2018 (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) a 4 Cumulative percent complete 5 Current year revenue 6 Gross profit loss) recognized in the current year 7 8 10 11 12 13