Question & Answer: Brady Construction Company contracted to build an apartment complex for a price of $7,000.000. Construction began in 2018 a…..

Brady Construction Company contracted to build an apartment complex for a price of $7,000.000. 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. Estimated Costs to Complete (As of the End of the Costs Incurred During Year Situation 2018 2019 2020 2018 2019 2020 11,700 2,730 1,500 4,230 1,500 2 1700 1500 3,200 4,230 3,200 – 3 1700 2730 3,200 4,230 3100 – 4 700 3,200 1400 4.900 975 5 700 3,200 2,700 4,900 3,100 6 700 3,200 3,800 6,555 3,500 – Required Complete the following table. (Do not round Intermedlate calculetlons. Enter answers In dollers. Round your final answers to the nearest whole dollar. Negatlve amounts should be Indlcated by a mlnus sign.) Gross Profit (Loss) Recognized Revenue Recognized Over Time Revenue Recognized Upon Completion Situation 2018 2019 2020 2018 2019 2020