Ezra Construction Co. ("ECC") started business in 2020 and accepted its first contract to construct a building for $2.3 million, starting March 1, 2020. The planned completion date is December 2022. ECC uses the percentage-of-completion method of accounting for long-term contracts. Percentage-of- completion is measured based on total costs incurred compared to total estimated construction costs. ECC uses IFRS and its year-end is December 31. Certain data related to the contract are summarized below Dec 31, 2020 Dec. 31. 2021 Costs incurred during the year 330.000 370.000 EsI'd remaining costs to complete 1.170,000 900.000 Progress billings during the year 410,000 557 000 Cash collections during the year 375.000 485.000 REQUIRED A Prepare all required journal entries for 2020 and 2021 (8 marks) B. What should be the balance of Accounts Receivable as of December 31, 2021? (1 Mark) C. What should be the balance of Construction in Progress (CIP) Inventory as of December 31 2021? (1 Mark) D. Ignore your answers to parts (A) (B), and (C) above. If the "Estimated remaining costs to complete" at December 31, 2020 was $2,126,000, instead of $1.170.000. How much should be the Income (Loss) before income taxes for the year 2020? Show your work clearly. (2 Marks) E ignore your answers to parts (A) (B) (C) and (b) above it the "Estimated remaining costs to complete" at December 31, 2021 was $1.870.000, instead of $900,000. How much should be the Income (06) before income taxes for the year 2021? Show your work clearly 12 Marks)