Let Hein Progress Your answer is partially correct. On March 1, 2020, Cheyenne Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,350,000. The building was completed by October 31, 2022. The annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to Fabrik for 2020 2021, and 2022 are given below: 2020 2021 2022 $2.939.400 $2,309,400 $2,041,200 Contract costs incurred during the year Estimated costs to complete the contract at 12/31 Billings to Fabrik during the year 3.450,600 2.041.200 -O- 3.190.000 3,480,000 1,680,000 (a) Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020 2021, and 2022. (Ignore income taxes.) of answer is 0, please enter 0. Do not leave any fields blank. Enter loss using either a negative sign preceding the numberes.-45 or parentheses es (451) 2020 Costs to date (12/31/201 2020 Costs to date 12/31/201 $ 0 Estimated Costs to Complete 2939400 Estimated Total Costs 5410600 Percent Complete % Revenue Recond Proh/Low Recenied in 2020 Pronto Recognized in 2020 $ 3.841000 2021 Costs to date (12/31/21) $ Revenue Record in 2021 $ 2.171.000 2022 That Costs incurred HIIT 1.000.000 [b] Using the completed-contract method, prepare schedules to compute the proht or loss to be recognized as a result of this contract for the years ended December 31, 2020 2021 and 2022. (ignore income taxes) answer is please enter O. Do not letve any fields blank Enterloss using either a negative sign preceding the number -45 or parentheses es (451) ur 1.060.000 (b) Using the completed-contract method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020, 2021 and 2022. (ignore income taxes) of answer iso, please enter 0. Do not leave any fields blank. Enter loss using either a negative sign preceding the number eg -45 or parentheseses (454 2020 $ 0 2021 $ 0 2022 $ 1.060,000 e Textbook and Media Solution Assistance Used Allmount of 15used