Answer:
2021
revenue 2,666,667
we have cost for <u> 2,000,000 </u>
income for 666,667
2022
revenue 3.278.400
cost <u> 2,500,000 </u>
income 778.400
2023
revenue 2,054,933
cost <u> 3,800,000 </u>
loss 1,745,067
Explanation:
2,000,000/ (2,000,000 + 4,000,000) = 1/3
in 2021 a third of the contract was complete therefore we recognize a third of revenue:
8,000,000 x 1/3 = 2,666,667
we have cost for 2,000,000
income for 666,667
2,500,000 / (2,500,000 + 3,600,000) = 0,4098
we recognize revenues for 40.98 of the total contract value.
8,000,000 x 40.98 = 3.278.400
cost <u> 2,500,000 </u>
income 778.400
2023
we recognize the remaining revenue.
8,000,000 - 2,666,667 - 3,278,400 = 2.054.933 revenue
cost 3,800,000
loss 1,745,067
