During 2020, Grouper Company started a construction job with a contract price of $1,610,000. The job was completed in 2022. The following information is available.     2020   2021   2022 Costs incurred to date   $410,000   $754,800   $1,067,000 Estimated costs to complete   590,000   355,200   –0– Billings to date   297,000   899,000   1,610,000 Collections to date   272,000   818,000   1,437,000 (a)     Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2020   $enter a dollar amount  Gross profit recognized in 2021   $enter a dollar amount  Gross profit recognized in 2022

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Q: percentage-of-completion method

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