At the Beginning of 2019 Gordo Yachts Enters into a Contract

At the beginning of 2019 Gordo Yachts enters into a contract to build a luxury yacht for a customer that is expected to take three years to complete. The contract price is $4,000,000. Completion is scheduled for the end of 2021. Gordo's year end is December 31. The following is a year by year summary of construction costs incurred and the estimated costs to complete the projects at the end of each year.
$\begin{array}{lrrrr}&\underline{2019}&\underline{2020}&\underline{2021}\\\text { Actual costs incurred}\\\text { current year } & \$ 750,000 & \$ 2,250,000 & \$ 775,000\\\text { actual costs incurred}\\\text { prior years}& \underline{\quad -0-}& \underline{750,000} &\underline{3,000,000}\\\text { Cumulative actual costs}\\\text { incurred to date}&750,000&3,000,000&3,775,000\\\text { Estimated costs to}\\ \text { Complete end of year } & \underline{ 2,250,000} & \underline{ 750,000} & \underline{\quad -0 -} \\\text {Total Cost} & \$ 3,000,000 & \$ 3,750,000 & \$ 3,775,000 \\\text { Billings } & \$ 700,000 & \$ 2,600,000 & \$ 700,000 \\\text { Cash Collections } & 500,000 & 2,000,000 & 1,500,000\end{array}$
Compute gross profit for 2019, 2020, and 2021 assuming the use of the completed- contract method.