Assume that Carla Vista Construction Company has a non$-$cancellable contract to construct a $$4,700,000$ bridge at an estimated cost

of $$4,230,000.$ The contract is to start in July $2023,$ and the bridge is to be completed in October $2025.$ The following data pertain to

the construction period. $($Note that, by the end of $2024,$ Carla Vista has revised the estimated total cost from $$4,230,000$ to

$$4,282,875.)$ Assume that progress billings are non$-$refundable.

$($a$1)$

$($a$2).$

Your answer is partially correct.

Under the percentage$-$of$-$completion, how would Carla Vista present the information for $2023$ in the balance sheet? $($List Current

assets in order of liquidity.$)$

Carla Vista Construction Company

Partial Statement of Financial Position