Question: Pharoah Construction entered into a contract to construct a bridge for a contract price of $ 2 . 9 5 million. Construction began in 2

Pharoah Construction entered into a contract to construct a bridge for a contract price of $2.95 million. Construction began in 2019 and was completed in 2021. Below are the details of the transactions related to the contract:
2019
Costs incurred during the year
$649,000
Estimated costs to complete
1,427,800
2020
$836.000
515,000
2021
5693,900
Calculate the revenue, expense and gross profit to be recognized each year using the percentage-of-completion method. (Round the percentage completion to 2 decal places, e.g.52.75% and other answers to 0 decimal places, e.g.1,525.)

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