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On June 15, 2016, Sanderson Construction entered into a long-term construction contract to build a...

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Accounting

On June 15, 2016, Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington, D.C., for $220 million. The expected completion date is April 1, 2018, just in time for the 2018 baseball season. Costs incurred and estimated costs to complete at year-end for the life of the contract are as follows ($ in millions): 2016 2017 2018 Costs incurred during the year $ 40 $ 80 $ 50 Estimated costs to complete as of December 31 120 60

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