Answer:
Estimated gross profit 767,840 627,760 297,000
Explanation:
Compi for the estimated gross profit that would be recognized during each year of construction period.
2017 2018 2019
Price $901,000 $901,000 $901,000
Costs to date $255,420 $433,620 $604,000
Estimated costs to 338,580 160,380 0
Estimated Total cost 133,160 273,240 604,000
Estimated gross profit 767,840 627,760 297,000
Therefore the estimated gross profit that would be recognized during each year of construction period will be :
2017 2018 2019
767,840 627,760 297,000
