Question in Accounting

0-1 A construction contractor has a fixed price contract for 9.000 lacs to build a bridge in 3 years time frame. A summary of some of the financial data is as under: (Amount in facs) Year 1 Year 2 Year 3 Initial Amount for revenue agreed in contract 9,000 9,000 9,000 Variation in Revenue (+) 200 200 Contracts costs incurred up to the reporting date 2,093 6,768* 8,100** Estimated profit for whole contract 950 1,000 1,000 *Includes 100 lacs for standard materials stored at the site to be used in year 3 10 complete the work. ** Excludes 100 lacs for standard material brought forward from year 2. The varlation in cost and revenue in year 2 has been approved by customer. Compute year wise amount of revenue, expenses, contract cost to complete and profit or loss to be recognized in the Statement of Profil and Loss as per AS -7 (revised)