Question: Please include working math since I am quite lost on how to start and solve this. During 2025 , Crane Company started a construction job

Please include working math since I am quite lost on how to start and solve this.

During 2025 , Crane Company started a construction job with a contract price of $1,600,000. The job was completed in 2027 . The following information is available. \begin{tabular}{lccr} & 2025 & 2026 & 2027 \\ \hline Costs incurred to date & $405,900 & $830,680 & $1,074,000 \\ Estimated costs to complete & 584,100 & 262,320 & 0 \\ Billings to date & 302,000 & 898,000 & 1,600,000 \\ Collections to date & 272,000 & 818,000 & 1,420,000 \end{tabular} (a) Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2025 \$ Gross profit recognized in 2026 \$ Gross profit recognized in 2027 \$

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