Tullis construction tullis construction enters into a long-term fixed price contract to build an office tower for $10,000,000. in the first year of the contract tullis incurs $3,000,000 of cost and the engineers determined that the remaining costs to complete are $5,000,000. tullis billed $4,000,000 in year 1 and collected $3,500,000 by the end of the end of the year. refer to tullis corporation. how much gross profit should tullis recognize in year 1 assuming the use of the completed contract method?

answer; personality;

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.