solve with deep explanation

Company has started a contract on 15 September with a customer. The contract was uncompleted as at 31 December 2017. This is a performance obligation satisfied overtime. Details of the contract as at 31 December 2017 are follows. Expected completion date 15 March 2018 Total contract revenue $ 520 000 Costs to 31.12.2017 S 120 000 Estimated costs to completion at 31.12.2017 $ 250 000 Amounts invoiced for work certified to 31.12.2017 S 364 000 Cash received to 31.12.2017 S 210 000 Value of performance obligations satisfied to 31.12.2017 I $ 286 000 Company calculates satisfaction of performance obligations based on work certified as a percentage of contract price. Required: Prepare calculations showing the amount to be included in the statement of profit or loss for the year ended December 31 2017 and statement of financial position at 31.12.2017 in respect of this contract