On July $1,2025,$ Blossom Construction Company Inc. contracted to build an office building for Sheridan Corp. for a total contract price Your answer is incorrect.

Using the cost$-$recovery method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for

the years ended December $31,2025.($Ignore income taxes.$)($If answer is $0,$ please enter $0.$ Do not leave any fields blank.$)$

$2025$ $

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Attempts: $2$ of $5$ used

$($b$2)$

Using the cost$-$recovery method, prepare a schedule to compute the profit or loss to be recognized as a result of this contract for

the years ended December $31,2026.($Ignore income taxes.$)($If answer is $0,$ please enter $0.$ Do not leave any fields blank.$)$

$2026$

$

$ Using the cost$-$recovery method, prepare a schedule to compute the profit or loss to be recognized as a result of this contract for

the years ended December $31,2027.($Ignore income taxes.$)($If answer is $0,$ please enter O$.$ Do not leave any fields blank.$)$

$2027$

$

$1$

:

$1$

of $$1,900,000.$ On July $1,$ Blossom estimated that it would take between $2$ and $3$ years to complete the building. On December $31,$

$2027,$ the building was deemed substantially completed. Following are accumulated contract costs incurred, estimated costs to

complete the contract, and accumulated billings to Sheridan for $2025,2026,$ and $2027.$