Sanderson report in its 2021, 2022, and 2023 income
statements related to this contract assuming this project does
not qualify for revenue recognition over time. 3. Suppose the
estimated costs to complete at the end of 2022 are $80
million instead of $60 million. Compute the amount of
revenue and gross profit or loss to be recognized in 2022
assuming Sanderson recognizes revenue over time according
to percentage of completion. 9 23 points Skipped Complete
this question by entering your answers in the tabs below.
eBook Required Required 2 Required 3 Hint Suppose the
estimated costs to complete at the end of 2022 are $80

million instead of S60 million. Compute the amount of
revense and gross profit or loss to be recognized in 2022
using the percentage of completion method. (Enter your
answers in millions. Use percentages as calculated and
rounded in the table below to arrive at your final answer.)
References Percentages of completion Choose numerator
Choose denominator % complete to date + 2022 2022
Recognized in 2022 To date Recognized in prior Years
Construction revenue Construction expense Gross profit
(loss) Required 2 Required 3