During 2012 AFCO started a construction job with a contract price of $2,500,000. The job was completed in 2014. The following information is available. 2012 2013 2014 Costs incurred to date $600,000 $1,435,000 $2,100,000 Estimated costs to complete 1,400,000 615,000 -0- Billings to date 100,000 500,000 2,500,000 Collections to date 100,000 300,000 2,000,000 Note - Please show all calculations in order to earn full credit. Instructions: (a) Compute the amount of gross profit to be recognized each year assuming the percentage of completion method is used. (b) Prepare all necessary journal entries for 2013. (c) Compute the amount of gross profit to be recognized each year assuming the completed-contract method is used