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Proctoring Enabled: Final Exam $1$

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$q,$ date is April $1,2026,$ just in time for the $2026$ baseball season. Costs incurred and

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Required:

Compute the revenue and gross profit that Sanderson will report in its $2024,2025,$ and $2026$ income statements related to this

$02320$ contract, assuming Sanderson recognizes revenue over time according to percentage of completion.

Compute the revenue and gross profit that Sanderson will report in its $2024,2025,$ and $2026$ income statements related to this contract, assuming this project does not qualify for revenue recognition over time.

Suppose the estimated costs to complete at the end of $2025$ are $$140$ million instead of $$70$ million. Compute the amount of revenue and gross profit or loss to be recognized in $2025,$ assuming Sanderson recognizes revenue over time according to percentage of completion.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Required $3$

Compute the revenue and gross profit that Sanderson will report in its $2024,2025,$ and $2026$ income statements related to this contract, Noste: Enter your answer in mill revenue over time according to percentage of completion.

percentages as calculated and rounded in the table below be entered as $$4).$ Loss amounts should be indicated with a minus sign. Use

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