Citation Builders, Inc., builds office buildings and single-family homes. The office buildings are constructed under contract with reputable buyers. The homes are constructed in developments ranging from 10-20 homes and are typically sold during construction or soon after. To secure the home upon completion, buyers must pay a deposit of 10% of the price of the home with the remaining balance due upon completion of the house and transfer of title. Failure to pay the full amount results in forfeiture of the down payment. Occasionally, homes remain unsold for as long as three months after construction. In these situations, sales price reductions are used to promote the sale. During 2021, Citation began construction of an office building for Altamont Corporation. The total contract price is $15 million. Costs incurred, estimated costs to complete at year-end, billings, and cash collections for the life of the contract are as follows: 2021 2022 2023 Costs incurred during the year $3,000,000 $ 7,125,000 $3,375,000 Estimated costs to complete as of year-end 9,000,000 3,375,000 Billings during the year 1,500,000 7,500,000 6,000,000 Cash collections during the year 1,350,000 6,050,000 7,600,000 Also during 2021, Citation began a development consisting of 12 identical homes. Citation estimated that each home will sell for $720,000, but individual sales prices are negotiated with buyers. Deposits were received for eight of the homes, three of which were completed during 2021 and paid for in full for $720,000 each by the buyers. The completed homes cost $540,000 each to construct. The construction costs incurred during 2021 for the nine uncompleted homes totaled $3,240,000. 6. What will Citation report in its 2021 income statement and 2021 balance sheet related to the single-family home business (ignore cash in the balance sheet)? Complete this question by entering your answers in the tabs below. Req 1 2A and 2B Req 3A and 3B Req 2c Req 4A and Req 3C 4B Req 4C Req5 Req 6A Req 6B What will Citation report in its 2021 income statement related to the single-family home business (ignore cash in the balance sheet)? Income Statement (Partial) 2021 $ 0 Complete this question by entering your answers in the tabs below. Req 1 2A and Req 2c Req 3A and 3B 2B Req 4A and Req 3C 4B Req 4C Req 6A Reg 5 Req 6B What will Citation report in its 2021 balance sheet related to the single-family home business (ignore cash in the balance sheet)? Balance Sheet (Partial) At December 31, 2021 Current assets: Current liabilities