Binder Corporation agreed to build a warehouse for a client at an agreed contract price...
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Accounting
Binder Corporation agreed to build a warehouse for a client at an agreed contract price of $4,000,000. Expected (and actual) costs for the warehouse follow: 2014, $640,000; 2015, $1,600,000; and 2016, $800,000. The company completed the warehouse in 2016. Compute net income for each year 2014 through 2016 using the percentage-of-completion method.
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