Frank & Dogg Construction Corporation obtained a $12,500,000 contract during 2019. The following data pertains to the construction period: Costs during the year 2019 3,500,000 2020 4,005,000 4,000,000 2021 Estimated costs to complete 8,500,000 4,600,000 1,200,000 Billings 6,250,000 Frank & Dogg uses the percentage of completion method. Costs incurred relative to the total project costs are used to measure the percentage of completion at the end of the year. Required a) For the years 2019, 2020 and 2021 calculate the following: Revenue realized Costs realized b) How will the project be presented in 2019 on Frank & Dogg's Statement of Financial Position (asset or liability and for what amount)