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 $2,581,000 6,319,000 2,090,000 1,845,000 2022 $2,347,000 2,772,000 2,838,000 2,900,000 2023 $3,049,200 0 5,072,000 5,255,000 Westgate recognizes revenue over time according to percentage of completion. 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.) 2021 2022 Balance Sheet (Partial) Current assets: Accounts receivable Construction in progress Less: Billings Costs and profit in excess of billings 0