Hello! Could someone please help me fill out this chart with calculations if possible? Thank you!!!

- You received partial credit in the previous attempt Assume Nortel Networks contracted to provide a customer with Internet infrastructure for $2,300,000. The project began in 2021 and was completed in 2022. Data relating to the contract are summarized below: Costs incurred during the year Estimated costs to complete as of 12/31 Billings during the year Cash collections during the year 2021 $ 324,000 1,296,000 410,000 310,000 2022 $1,, 1,680,000 1,780,000 Required: 1. Compute the amount of revenue and gross profit or loss to be recognized in 2021 and 2022 assuming Nortel recognizes revenue over time according to percentage of completion 2. Compute the amount of revenue and gross profit or loss to be recognized in 2021 and 2022 assuming this project does not quality for revenue recognition over time. 3. Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2021 assuming Nortel recognizes revenue over time according to percentage of completion. 4. Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2021 assuming this project does not qualify for revenue recognition over time. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 1 Required 2 Required 3 Required 4 Compute the amount of revenue and gross profit or loss to be recognized in 2021 and 2022 assuming Nortel recognizes revenue over time according to percentage of completion. (Loss amounts should be indicated with a minus sign. Use percentages as calculated and rounded if table below to arrive at your final answer.) + Percentages of completion Choose denominator Estimated total costs - % complete to date 5 2021 2022 Choose numerator Actual costs to date 3 24,000 2,124,000 + + 2,124,000 100.00% - Recognized in prior years Recognized in 2021 1 | 0 Construction revenue Construction expense Gross profit (loss) llll To date Recognized in prior years Recognized in prior years Recognized in 2022 Construction revenue Construction expense Gross profit (loss) Required 1 Required 2 >