a work mode : This shows what is correct or Incorrect for the work you have completed so far. It does not Indicate completion. Return to question Required Information (The following information applies to the questions displayed below) 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: 2023 $2,655 400 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 $2.059,000 5,041,000 2.190.000 1,895,000 2022 $2,627,000 2.414.000 2.496,000 2,400,000 5,314 000 5,705,000 Westgate recognizes revenue over time according to percentage of completion. 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.) Answer is not complete. 2021 $ 230,000 12 800 000 Balance Sheet (Partial) Current assets Accounts receivable Construction in progress Less: Billings Costs and profit in excess of bilings Current liabilities: 2,800,000 X 2,800,000 $ 88,000 MacBook F