acct 610 e5 2 404456

Brady Construction Company contracted to build an apartment complex for a price of $5,000,000. Construction began in 2013 and was completed in 2015. The following are a series of independent situations, numbered 1 through 6, involving differing costs for the project. All costs are stated in thousands of dollars Estimated Costs to Complete Costs Incurred During Year (As of the End of the Year) Situation 2013 2014 2015 2013 2014 2015 1 1,500 2,100 900 3,000 900 ” 2 1,500 900 2,400 3,000 2,400 ” 3 1,500 2,100 1,600 3,000 1,500 ” 4 500 3,000 1,000 3,500 875 ” 5 500 3,000 1,300 3,500 1,500 ” 6 500 3,000 1,800 4,600 1,700 ” Required: Complete the following table. (Do not round intermediate calculations. Negative amounts should be indicated by a minus sign.) Gross Profit (Loss) Recognized % of Completion Completed Contract Situation 2013 2014 2015 2013 2014 2015 1 2 3 4 5 6