In $2024,$ the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $$10,000,000.$ The road was completed in $2026.$ Information related to the contract is as follows:

$.........................\mathrm{.}2024........\mathrm{.}2025.....\mathrm{.}2026$

Cost incurred during the year $ $2,100,000$ $ $3,150,000$ $ $2,475,000$

Estimated costs to complete as of year$-$end $5,400,0002,250,0000$

Billings during the year $2,150,0003,100,0004,750,000$

Cash collections during the year $1,875,0003,100,0005,025,000$

Westgate recognizes revenue over time according to percentage of completion.

Required: Complete the information required below to prepare a partial balance sheet for $2024$ and $2025$ showing any items related to the contract.

Note: Do not round intermediate calculations.