SI ili > Normal No Spac... Heading Heading 2 Select ondan Adobe PDF Paragraph Styles Editing Adobe Acrobat On February 1, 2017, Marsh Contractors agreed to construct a building at a contract price of $5,940,000. Marsh estimated total construction costs would be $4,112,000 and the project would be finished in 2019. Information relating to the costs and billings for this contract is as follows: -0- 2017 2018 2019 Total costs incurred to date $1,542,000 $2,724,000 $4,670,000 Estimated costs to complete 2,570,000 1,816,000 Customer billings to date 2,340,000 4,112,000 5,740,000 Collections to date 2,140,000 3,640,000 5,640,000 Fill in the correct amounts on the following schedule. For percentage-of-completion accounting and for completed contract accounting, show the gross profit that should be recorded for 2017, 2018, and 2019. Percentage-of- Completion Gross Profit Completed Contract Gross Profit 2017 2017 s s! 2018 2018 $ 2019 2019 o