Question: On March 1 6 , 2 0 1 7 , a local construction company accepted a contract to construct a community activity center for Washington

On March 16,2017, a local construction company accepted a contract to construct a community activity center for Washington County. The contract price was fixed at $320,000. The company expected to complete the project in three years. Information regarding the performance of the contract is summarized below for years 2017 and 2018. And the company used the percentage-ofcompletion cost-to-cost method.
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On March 1 6 , 2 0 1 7 , a local construction

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