A construction company entered into a fixed-price contract to build an office building for $26 million. Construction costs incurred during the first year were $6 million and estimated costs to complete at the end of the year were $9 million. During the first year the company billed its customer $9 million, of which $3 million was collected before year-end. What would appear in the year-end balance sheet related to this contract using the percentage-of- completion method? (Enter your answers in whole dollars.) Answer is complete but not entirely correct. Assets: Accounts receivable Costs plus profit in excess of billings Deferred gross profit $ 6,000,000 $ 3,000,000 * $ 1,200,000