Paper , Order, or Assignment Requirements

You are an analyst for a construction company that develops commercial properties. You have just built a multi-million dollar strip-mall that has been sold to a conglomerate that will rent out the space to various tenants. The settlement to transfer the property has occurred, the buyer has signed all paperwork and cash has transferred successfully. The total price for this is $10M, and total Cost of Sales (COS) at the time of delivery are $8M. However, as part of the contract, you have agreed to complete all landscaping for the property, per the drawings agreed upon between both parties. This transfer has taken place in December of a particularly wintery year. As such, your sub-contractor, the landscaping firm, recommends that the landscaping work commence in March, as the conditions are too cold to allow for the work to be completed prior to title transfer. The cost of the landscaping is $500K. 1) Prepare proper financial statement(s). 2) Calculate total gross margin on this project? 3) What accounting considerations/treatments are required based on this scenario?