Question: On February 1 , 2 0 2 3 , Crane Contractors agreed to construct a building at a contract price of $ 3 , 4

On February 1,2023, Crane Contractors agreed to construct a building at a contract price of $3,460,000. The total estimated construction costs would be $2,390,000 and the project would be finished in 2025. Information relating to the costs and billings for this contract is as follows:
\table[[,2023,2024,2025],[Total costs incurred to date,$ 872,350,$ 1,508,000,$ 2,300,000],[Estimated costs to complete,1,517,650,1,092,000,-0-],[Customer billings to date,1,100,000,2,390,000,3,460,000],[Collections to date,1,000,000,1,750,000,2,950,000]]
Calculate the gross profit /(loss) that should be recognized for 2023,2024, and 2025 using the percentage completion method. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g.(45). Round percentage complete to 1 decimal place, e.g.15.2% and final answers to O decimal places, e.g.5,125.)
\table[[,2023,2024,2025,],[Gross profit /(loss),$,,$,]]
On February 1 , 2 0 2 3 , Crane Contractors

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