I can't figure out what to post on both balance sheets

Assume Nortel Networks contracted to provide a customer with Internet infrastructure for $2550000. The project began in 2021 and was completed in 2022. Data relating to the contract are summarized below:

Assume Nortel Networks contracted to provide a customer with Internet infrastructure for $2,550,000. The project began in 2021 and was completed in 2022. Data relating to the contract are summarized below. Costs incurred during the year Estimated costs to complete as of 12/31 Billings during the year Cash collections during the year 2021 2022 $ 344, eee $1,773, eee 1,376,000 0 468,000 2,082.ee 316,000 2,234,000 Required: 1. Compute the amount of revenue and gross profit or loss to be recognized in 2021 and 2022 assuming Nortel recognizes revenue over time according to percentage of completion 2. Compute the amount of revenue and gross profit or loss to be recognized in 2021 and 2022 assuming this project does not quality for revenue recognition over time 3. Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2021 assuming Nortel recognizes revenue over time according to percentage of completion 4. Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2021 assuming this project does not quality for revenue recognition over time Complete this question by entering your answers in the tabs belol) Required 1 Required 2 Required 3 Required 4 Compute the amount of revenue and gross profit or loss to be recognized in 2021 and 2022 assuming Nortel recognizes revenue over time according to percentage of completion. (Loss amounts should be indicated with a minus sign. Use percentages as calculated and rounded in the table below to arrive at your final answer) Required 1 Required 2 Required 3 Required 4 Compute the amount of revenue and gross profit or loss to be recognized in 2021 and 2022 assuming Nortel recognizes revenue over time according to percentage of completion. (Loss amounts should be indicated with a minus sign. Use percentages as calculated and rounded in the table below to arrive at your final answer.) + % complete to date Choose numerator Actual costs to date 344,000 2.117,000 Percentages of completion Choose denominator = Estimated total costs $ 1.720,000 $ 2,117,000 = 2021 2022 + $ $ 20.00% 100.00% + 2021 Recognized in prior years To date 0 S Construction revenue Construction expense Gross profit (loss) $ $ S 510,000 $ 344,000 $ 166,000 $ Recognized in 2021 510,000 344,000 166,000 0 0 $ $ To date $ Construction revenue Construction expense Gross profit (loss) 2022 Recognized in prior years 510,000 $ 344,000 $ 166,000 $ 2,550,000 $ 2,117,000 s 433,000 $ Recognized in 2022 2,040,000 1,773,000 267,000 S $ GIRequired Required 2 > assuming Nortel recognizes revenue over time according to percentage of completion 4. Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2021 assuming this project does not qualify for revenue recognition over time. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the amount of revenue and gross profit or loss to be recognized in 2021 and 2022 assuming this project does not qualify for revenue recognition over time. (Loss amounts should be indicated with a minus sign.) Revenue Gross Profit (Loss) 2021 os 0 2022 $ 2,550,000 $ 433,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2021 assuming Nortel recognizes revenue over time according to percentage of completion. Balance Sheet (Partial) Af December 31, 2021 Current assets: Costs and profit in excess of billings Accounts receivable Current liabilities: ume. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a partial balance sheet to show how the information related to this contract would be presented at the end of 2021 assuming this project does not qualify for revenue recognition over time. Balance Sheet (Partial) At December 31, 2021 Current assets 1 2005 Current liabilities: