Brady Construction Company contracted to build an apartment complex for a price of $5,800.000. Construction...
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Brady Construction Company contracted to build an apartment complex for a price of $5,800.000. Construction began in 2021 and was completed in 2023. 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. Situation 1 2 3 4 5 6 Costs Incurred During Year 2021 2022 2023 1,580 2,370 1,140 1,580 1,140 2,720 1,580 2,370 2,240 580 3,080 1,160 580 3,080 1,860 580 3,080 2,600 Estimated costs to Complete (As of the End of the Year 2021 2022 2023 3,510 1,140 3,510 2,720 2,140 4,060 915 2,140 5,400 2,420 3,510 4,060 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 Situation 2021 2022 2023 2021 2022 2023 1 $ 220 s 3317 s 159 0 0 $ 710 2 220 180 0 0 360 3 220 (408) (202) 0 (202) (202) 145 835 0 0 980 145 (145) 280 0 0 280 6 (17) (17) (17) (17) (17) (17) (40) 4 0 5
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