Using Percentage-of-Completion and Completed Contract Methods Halsey Building Comparty signed a contract to build an office building for $60,000,000. The scheduled construction costs follow. Year Cest 2016 $12.000.000 2017 12.000.000 2011 10,000,000 To $40,000,000 The building is completed in 2018 For each year, compute the revenue expense, and gross profit reported for this construction project using each of the following assumptions a. Halsey's performance obligation to build the office building is fulfilled as construction proceeds, and the cost incurred is an accurate reflection of the value transferred to the customer 2016 2012 2018 Revenue 5 pers Gross Pro 1 $ 5 5 b. Halsey's contract does not transfer ownership rights to the customer until the building is completed 2018 2016 2017 $ $ Revenue $ Expense $ Gross Profits $ $ $ $ Check