On July $1,2025,$ Crane Construction Company Inc. contracted to build an office building for Shamrock Corp. for a total contract price

of $$1,890,000.$ On July $1,$ Crane 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 Shamrock for $2025,2026,$ and $2027.$ Costs to Date $(\frac{12}{31}\frac{?}{27})$

Estimated Costs to Complete

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$$

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 O$.$ Do not leave any fields blank.$)$

$2026$

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$

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 $0.$ Do not leave any fields blank.$)$

$

$