申論題

二、On September 1, 2019, Quality Construction Company Inc. contracted to build an office building for King Stone Corp. for a total contract price of $8,800,000. The building was completed by July 30, 2021. Following are the annual contract costs incurred, estimated costs to complete the contract, and accumulated billings to King Stone for 2019, 2020, and 2021. 

(2) Prepare the partial income statement to report the revenue from construction contract, construction expense, and profits (or loss) for each of the years.