Question: this is one question 2021 $ $ % $ $ 2022 (a) Using the percentage-of-completion method, prepare schedules to compute the pro: contract for the



2021 $ $ % $ $ 2022 (a) Using the percentage-of-completion method, prepare schedules to compute the pro: contract for the years ended December 31, 2020,2021, and 2022. (Ignore income taxes (b) Using the completed-contract method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31,2020,2021, and 2022. (IBnore income taxes.) (If answer is O, please enter 0. Do not leave any fields blank. Enter loss using either a negotive sign preceding the number eg. -45 or parentheses es. (45).) On March 1, 2020, Sweet Construction Company contracted to construct a factory building for Fabrik Manufacturing Inc. for a total contract price of $8,460,000. The building was completed by October 31, 2022. The annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to Fabrik for 2020, 2021, and 2022 are given below: (a) Using the percentage-of-completion method, prepare schedules to compute the profit or loss to be recognized as a result of this contract for the years ended December 31, 2020,2021, and 2022 . (ignore income taxes) Of onswer is 0, please enter Q. Do not leave any fields blank. Enter loss using either a negative sign proceding the number e\& -45 or parentheses es (45)
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