During 2017, the Samuelson Construction Company began construction on an office building for the Cty of Philadelphia. The contract price is $25 million and the buikding will take about 18 months to complete. Completion is scheduled for early in 2018. The company's fiscal year ends on December 31 The folowing s a year-by-year recap of construction costs incurred and the estimated costs to complete the project as of the end of each year. Progress billings and cash collections are also indicated. 2017 20182019 Contract amount (selling pricc) Construction costs incurred during the year Construction costs incurred in prior years $25,000,000 $25,000,000 $25,000,000 $4,000,000 $14,000,000 $5,000,000 $ 0$ 4,000,000 $18,000,000 Estinated costs to complete the project (determined at year-end) $16,000,000 S 6,000,000 S 0 6-11 Calculate the Gross Profitor Loss to be recognized in each of the three years applying the following methods: 2017 2018 Percentage-of-completion method: 6. Completed contract method: 9. 10