Question: LevelUp Construction is working on a contract to construct a large building. The value of the contract is $1,725,500. The controller of LevelUp, Ernie Carlos,

LevelUp Construction is working on a contract to construct a large building. The value of the contract is $1,725,500. The controller of LevelUp, Ernie Carlos, wants to know how effective the company has been in their construction over the last 3 years. Looking through the financial records of the company, Ernie finds the following information:

2017 2018 2019

Gross Profit (loss) 76,525 145,250 (22,500)

Costs Incurred. 365,000 ? 835,750

Instructions: Help Ernie determine the following: 1. How much costs were incurred during 2018 2. What percentage of the project was completed at the end of 2018 3. What was the total estimated gross profit for the building project at the end of 2018. 4. What was the estimated to cost to complete the project at the end of 2018.

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