Rambotix Networks Incorporated (RNI) accepts a fixed-fee contract to develop and implement a communications network for Franz Sound Systems. RNI accepts a fixed fee of $19,200 and must complete the project within three years. RNI uses the percentage-of-completion method of accounting to determine the percent complete using the cost-to-cost approach. Costs incurred and estimated total costs are summarized in the table below: (Click the icon to view the costs incurred and estimated total costs.) Determine the amount of gross profit that RNI will report in each of the three years. (Enter the percentages to the nearest whole number. Enter "0" for any zero amounts.) First, compute the percentage of completion for each year. 2022 2023 2024 Cumulative percent complete % % Contract information Revenue and Gross Profit Recognition 2022 2023 2024 Contract price 2022 2023 2024 % % % $ 5.920 S 7,300 Times: Percent complete Cumulative revenue Revenue recognized in prior years Current year revenue Actual costs incurred during the year Actual costs incurred in previous years Estimated costs to complete 0 380 S 5,920 4.200 6,300 8,880 0 $ 14,800 S 10,500 S 13,600 Less: Actual costs Estimated total costs Gross profit recognized in the current year