Calculate the amount of gross profit

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Calculate the amount of gross profit to be recognized in each of the three years, assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations. Round your answers to the nearest dollar amount. Loss amounts should be indicated with a minus sign. Omit the “$” sign in your response.)

2011 2012 2013
Costs incurred during the year $ 2,100,000 $ 3,350,000 $ 2,925,000
Estimated costs to complete as of year-end 4,900,000 2,850,000 0

2011 2012 2013
Gross profit (loss) $ $ $

Calculate the amount of gross profit to be recognized in each of the three years, assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations. Loss amounts should be indicated with a minus sign. Omit the “$” sign in your response.)

2011 2012 2013
Costs incurred during the year $ 2,100,000 $ 3,350,000 $ 3,625,000
Estimated costs to complete as of year-end 4,900,000 3,850,000 0

2011 2012 2013
Gross profit (loss) $ $ $

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