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I ONLY NEED HELP ON THE LAST PART (LETTER C) PLS

During 2020, Carla Company started a construction job with a contract price of $1,600,000. The job was completed in 2022. The following information is available. 2020 2022 $1,069,000 $404,000 606,000 2021 $830,680 262,320 906,000 810,000 Costs incurred to date Estimated costs to complete Billings to date Collections to date -0- 300,000 272,000 1,600,000 1,416,000 (a) Your answer is correct. Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2020 $ 236000 Gross profit recognized in 2021 $ 149320 Gross profit recognized in 2022 $ 145680 Your answer is correct. Prepare all necessary journal entries for 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. For costs incurred use account Materials, Cash, Payables.) Account Titles and Explanation Debit Credit Construction in Process 426680 Materials, Cash, Payables 426680 (To record cost of construction.) Accounts Receivable 606000 Billings on Construction in Process 606000 (To record progress billings.) Cash 538000 Accounts Receivable 538000 (To record collections.) Construction in Process 149320 Construction Expenses 426680 Revenue from Long-Term Contracts 576000 (To recognize revenue.) (c) Compute the amount of gross profit to be recognized each year, assuming the completed-contract method is used. 2020 2021 2022 Gross profit $ $ $

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