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(Solved): Brady Construction Company Contracted To Build An Apartment Complex For A Price Of $6,100,000. Const...


Brady Construction Company contracted to build an apartment complex for a price of $6,100,000. Construction began in 2018 and

Brady Construction Company contracted to build an apartment complex for a price of $6,100,000. Construction began in 2018 and was completed in 2020. The following is a series of independent situations, numbered 1 through 6, involving differing costs for the project. All costs are stated in thousands of dollars. Costs Incurred During Year Situation 2018 2019 2020 1,610 2,460 1,230 1,610 1,230 2,840 3 1,610 2,460 2,480 4 6103,110 1,220 610 3,110 2,070 6 610 3,110 2,900 Estimated Costs to Complete (As of the End of the Year) 2018 2019 2020 3,690 1,230 3,690 2,840 3,690 2,380 4,270 930 4,270 2,380 5,655 2,690 UAWN- ||| Required: Complete the following table. (Do not round intermediate calculations. Enter answers in dollars. Round your final answers to the nearest whole dollar. Negative amounts should be indicated by a minus sign.) Gross Profit (Loss) Recognized Revenue Recognized Over Time Revenue Recognized Upon Completion 2018 2019 2020 2018 2019 2020 Situation 6


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