On February 1, 2014, Marsh Contractors agreed to construct a building at a contract price of $5,800,000. Marsh estimated total construction costs would be $4,000,000 and the project would be finished in 2016. Information relating to the costs and billings for this contract is as follows: 
InstructionsFill in the correct amounts on the following schedule. For percentage-of-completion accounting and for completed-contract accounting, show the gross profit that should be recorded for 2014, 2015, and 2016. 
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High Definition
A term that describes a level of detail in an image or screen, typically referring to a resolution with significantly more pixels than standard definition.
Volume Control
A feature or device that allows the adjustment of the audio output level in electronic devices such as TVs, computers, and mobile phones.
Slider Tool
A user interface element allowing the adjustment of values through a sliding mechanism, commonly used for controlling volume or zoom levels.
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