Red X is marked wrong

Constructing and Assessing Income Statements Using Cost-to-Cost Method On March 15, 2019, Gilbert Construction contracted to build a shopping center at a contract price of $220 million. The schedule of expected (which equals actual) cash collections and contract costs follow ($ millions): Year Cash Collections Cost Incurred 2019 $55 million $36 million 2020 88 million 81 million 2021 77 million 63 million Total $220 million $180 million (a) Calculate the amount of revenue, expense, and net income for each of the three years 2019 through 2021, and for all three years combined, using the cost-to-cost recognition method. Round answers to the nearest whole number. Enter $ answers in millions. Cost-to-CostMethod Percent Costs of total Revenue incurred expected costs recognized 36 16 % * $ 55 X $ Year Income 19 X 2019 $ 2020 81 37 % X 88 X 7 X 2021 63 29 % X 77 14 $ 180 $ 220 $ 40