Beck Construction Company began work on a new building project on January 1, 2020. The project is to be completed by Dec

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Beck Construction Company began work on a new building project
on January 1, 2020. The project is to be completed by December 31,
2022, for a fixed price of $108 million. The following are the
actual costs incurred and estimates of remaining costs to complete
the project that were made by Beck's accounting staff: Years Actual
costs incurred in each year Estimated remaining costs to complete
the project (measured at Dec. 31 of each year) 2020 $ 30 million $
60 million 2021 $ 45 million $ 45 million 2022 $ 35 million $ 0
Required: What amount of gross profit (or loss) would Beck record
on this project in each year, assuming that Beck recognizes revenue
for this project upon completion of the project?