On February 1, 2010 Marsh Contractors agreed to construct a building at a contract price of $10,000,000. Marsh estimated total construction costs would be $8,000,000 and project would be finished in 2012. Information relating to the costs and billings for this contract is as follows:
2010 2011 2012
Total costs incurred to date $2,000,000 $5,500,000 $8,000,000
Estimated costs to complete $6,000,000 $2,500,000 $0
Please show the percentage of completion, revenues, expenses and profit for each year 2010,2011, 2012 and cumulatively each year.