A construction company entered into a fixed-price contract to build an office building for $46 million. Construction costs incurred during the first year were $12 million and estimated costs to complete at the end of the year were $28 million. During the first year the company billed its customer $12 million, of which $9 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 $ 3,000,000 $ 258,000 X