Philbrick Company signed a three-year contract to develop custom sales training materials and provide training to the employees of Elliot Company. The contract price is $1,400 per employee and the number of employees to be trained is 500. Philbrick can send a bill to Elliot at the end of every training session. Once developed, the custom training materials will belong to Elliot Company, but Philbrick does not consider them to be a separate performance obligation. The expected number to be trained in each year and the expected development and training costs follow.

For each year, compute the revenue, expense, and gross profit reported assuming revenue is recognized over time using... 1. the number of employees trained as a measure of the value provided to the customer. Note: Round answers to the nearest dollar.

2. the cost incurred as a measure of the value provided to the customer. Note: For your Revenue answers, use an unrounded percentage completed factor. and then round your final answer to nearest dollar.

\begin{tabular}{|l|r|r|} \hline & Numberofemployees & Developmentandtrainingcostsincurred \\ \hline 2019 & 150 & $85,000 \\ \hline 2020 & 250 & 100,000 \\ \hline 2021 & 100 & 50,000 \\ \hline Total & 500 & $235,000 \\ \hline \hline \end{tabular}