revenue recognition


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Brady Construction Company contracted to build an apartment complex for a price of $5,000,000. Construc- tion began in 2016 and was completed in 2018. 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 (picture in the link) (just do situation 1,2,3)

https://www.dropbox.com/s/yw91t2zmpin9cd9/Screenshot 2015-03-20 20.14.14.png?dl=0
Required:


Revenue Recognized Over Time 2016 2017 2018

Revenue Recognized Upon Completion 2016 2017 2018
the answer my teacher provided for Revenue recognized over time year 2018 is:
Situations 1 and 2 = $100,000

Situation 3 = ($100,000)
But I think there may be a problem with this answer.
Could someone help me with this? thanks
 

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