Question: During 2 0 2 0 , Marin Company started a construction job with a contract price of $ 1 , 6 2 0 , 0

During 2020, Marin Company started a construction job with a contract price of $1,620,000. The job was completed in 2022. The following information is available.
202020212022
Costs incurred to date $393,900 $889,380 $1,061,000
Estimated costs to complete 616,100208,6200
Billings to date 303,000902,0001,620,000
Collections to date 273,000814,0001,418,000
(a)
Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used.
Gross profit recognized in 2020 $
Gross profit recognized in 2021 $
Gross profit recognized in 2022 $

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