In 2016, 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 2018. Information related to the contract is as follows:

	2016			2017			2018
Cost incurred during the year	$	2,400,000		$	3,600,000		$	2,200,000
Estimated costs to complete as of year-end		5,600,000			2,000,000			0
Billings during the year		2,000,000			4,000,000			4,000,000
Cash collections during the year		1,800,000			3,600,000			4,600,000

Westgate recognizes revenue over time according to percentage of completion.

Complete the information required below to prepare a partial balance sheet for 2016 and 2017 showing any items related to the contract. Indicate whether any of the amounts shown are contract assets or contract liabilities. (Do not round intermediate calculations.)

Balance Sheet (Partial)	2016	2016	2017	2017
Current Assets:
Accounts Receivable		BLANK		BLANK
Construction in Progress	BLANK		BLANK
Less:Billings	BLANK		BLANK
Costs and profit in excess of billings		Total CALC		Total CALC
Current Liabilities
		BLANK		BLANK

THe words BLANK indicate where the numbers are to be filled in at in the table. The TOTAL CALC squares are a formula built into the table to total the above entries