SUNSHINE Construction signed a contract to build a building over a period 3 years for a price of P15,000,000. Information relating to the performance of the contract is summarized as follows: 2020 2021 2022 Construction costs incurred 3,000,000 4,000,000 3,500,000 during the year Estimated costs to 7,000,000 3,000,000 - complete Billings during the 4,200,000 4,800,000 6,000,000 year Collections during the 3,000,000 2,700,000 7,300,000 year 1. Revenue for the year 2020 2. Gross Profit for the year 2021 3. Contract Asset or Liability as of December 31, 2021 4. Gross profit for the year 2022