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Grange Construction Limited ( CL ) is located in Hanover, Jamaica. GCL two construction projects in progress during the year ended 3 1 December 2

Grange Construction Limited (CL) is located in Hanover, Jamaica. GCL two construction projects in progress during the year ended 31 December 2020. Work on the contracts are certified by a surveyor as performance obligations are completed. The following figures relate to two projects at the end of the reporting period.Kendal ProjectCove Project$'000$'000Contract price120,000110,000Costs incurred to date26,80035,040Estimated costs to completion67,20081,760Value of work certified to date28,80036,000Progress Billings (amt. invoiced)30,40040,800Cash received on invoiced amount28,40029,800For the year ended 31 December 2019 revenue and cost recognized on the Kendal project was $15,000 and cost $11,000 respectively. KCL recognizes revenues and profits on construction contracts using the input approach REQUIRED:Calculate the figures which would appear in GCL's financial statements

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