! 7 Required information [The following information applies to the questions displayed below.] Part 3 of 5 In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows: 10 points Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 $2,640,000 6,160,000 2,080,000 1,840,000 2022 $2,300,000 2,660,000 2,860,000 2,800,000 2023 $2,926,000 0 5,060,000 5,360,000 eBook Westgate recognizes revenue over time according to percentage of completion. Print 3. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related to the contract. (Do not round intermediate calculations.) References Balance Sheet (Partial) 2021 2022 Current assets: 0 0 Current liabilities