Question: Oriole Enterprises Ltd . has entered into a contract beginning in February 2 0 2 3 to build two warehouses for Blue Spruce Structures Ltd

Oriole Enterprises Ltd. has entered into a contract beginning in February 2023 to build two warehouses for Blue Spruce Structures Ltd. The contract is a non-cancellable fixed-price contract for $10.2 million. The following data pertain to the construction period. Gross profit 2023: $675000. What is the amount of gross profit to be recognized in each year of the contract. The percentage of completion is 2023: 45%,2024: 87%,2025: 100%
Oriole Enterprises Ltd . has entered into a

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