Year 2 loss = -150

Year 3 loss = -50

Dakota entered into a contract to install a pipeline for a fixed price of $1,000,000. Dakota recognizes Revenue as a percentage of completion. The following summarizes costs and expected costs for the life of the project: 21. In year 2, Dakota would report how much gross profit or loss? 22. In year 3, Dakota would report how much gross profit or loss