Calculate the amount of gross profit

Reference no: EM13326997

Calculate the amount of gross profit (loss) to be recognized in each of the three years, assuming the following costs incurred and costs to complete information.
2013 2014 2015
Costs incurred during the year $ 2,570,000 $ 3,885,000 $ 4,155,000
Estimated costs to complete as of year-end 5,770,000 4,270,000 0

Reference no: EM13326997

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