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) Revenue Recognition Over Time: completed in 2016. The ftarted a construction job with a contract price of $2,000,000. The job was Costs incurred to date Estimated Costs to Complete Billing to Date Collections to Date completed in 2016. The following inform ation is available: 2016 $1,070,000 2015 $300,000 $825,000 700,000 300,000 275,000 900,000 2,000,000 810,000 1,425,000 270,000 REQUIRED: Compute the amount of Revenue and Gross Profiytlo be recognized each year using. 1) Revenue Over Time Method (Percentage of Completion Method) 2) Completed Contract Method