Evans Construction, Inc. experienced the following construction activity in 2018, the first year of operations.

Contract		Total Contract Price		Billings Through 12/31/18		Cash Collections Through 12/31/18		Costs Incurred Through 12/31/18		Estimated Additional Costs to Complete
X		$261,000		$171,000		$156,000		$184,000		$ 64,000
Y		331,000		116,000		116,000		102,000		253,000
Z		234,000		234,000		200,000		160,000		-0-
		$826,000		$521,000		$472,000		$446,000		$317,000

Prepare a partial income statement to indicate how the above contract information would be reported. Evans uses the completed-contract method

Prepare a partial balance sheet to indicate how the above contract information would be reported. Evans uses the completed-contract method. (List Current Assets in order of liquidity.)