Blue Suede Construction Corp used

Blue Suede Construction Corp used the percentage-of-completion method of revenue recognition. They were contracted to build the new amphitheater for $9000000.
Additional information was provided: As of Dec 31Ac€¦. 2012 2013 Percentage of completion 20% 55% Estimated total expected costs $6,800,000 $7,200,000 Gross profit
recognized in 2013 wasAc€¦ (Points : 5) $550,000 $440,000 $990,000 $2,200,000