In 2021, 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 2023. Information related to the contract is as follows: Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 $2,640,000 2022 $2,300,000 6,160,000 2,660,000 2,080,000 2,860,000 5,060,000 1,840,000 2,800,000 5,360,000 2023 $2,926,000 0 Westgate recognizes revenue over time according to percentage of completion. Problem 6-10 (Algo) Part 3 3. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related to the contract. (Do not round intermediate calculations.) Balance Sheet (Partial) Current assets: Accounts receivable Construction in progress Less: Billings Costs and profit in excess of billings Current liabilities: Costs and profit in excess of billings Answer is not complete. 2021 2022 $ 240,000 $ 300,000 ( $ 3,000,000 (2,080,000) $ 6,500,000 920,000 6,500,000 0 $ 0