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In 2013,Modern Construction Company entered into a contract to construct a building for $5,000,000.The estimated cost to complete the building is $4,000,000 and the project will be completed in 2014.Modern incurred actual construction costs of $1,600,000 and $1,800,000 in 2013 and 2014,respectively.How much gross profit is recognized using the percentage-of-completion method in 2013 and 2014?
Cyanosis
A bluish discoloration of the skin and mucous membranes due to insufficient oxygen in the blood.
Barrel Chest
A chest shape characterized by an increased front-to-back diameter, often associated with emphysema or chronic obstructive pulmonary disease (COPD).
High-Risk Group
A category of individuals who, due to specific characteristics or behaviors, have a significantly higher chance of developing a particular disease or injury than the general population.
H1N1
A subtype of influenza A virus known to cause respiratory infections in humans; it was responsible for the 2009 flu pandemic.
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