Heavy Hitter Construction Company had a contract starting March 2018, to construct a $30,000,000 building that is expected to be completed in October 2020, at an estimated cost of $27,500,000. Information about this contract in 2018 and 2019 is as follows: Actual costs incurred to date Estimated remaining costs Billed to customer in the current year Received from customer in the current 2018 $8,980,000 18,520,000 9,600,000 9,150,000 2019 $21,840,000 6,160,000 11,700,000 11,850,000 year Using the percentage of completion method, at December 31, 2019 Heavy Hitter would report a balance in Construction in Process in the amount of: $21,840,000 $8,980,000 $23,400,000 $20,625,000