TING Chapter 5 Problems Question 1 (of 6) 1 value 166 points A construction company entered into a fixed-price contract to build an office building for $44 million. Construction costs incurred during the first year were $14 million and estimated costs to complete at the end of the year were $21 million. How much revenue will appear in the company's income statement in the first year using the percentage- of-completion method? (Enter your answer in whole dollars.) How much gross profit or loss will the company recognize in the first year using the percenta