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 2018 2017 Cost incurred during the year $2,100,000 $3,150,000 $2,475,000 Estimated costs to complete as of year-end 5.400.000 2,250,000 Billings during the year 2,150,000 3,100,000 4,750,000 1,875,000 3,100,000 5.025.000 Cash collections during the year Westgate recognizes revenue over time according to percentage of completion