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: Cost incurred during the year Estimated costs to complete as of year-end 2024 $ 2,100,000 4,900,000 2025 Billings during the year 2,200,000 Cash collections during the year 1,900,000 $ 2,450,000 2,450,000 2,350,000 2,300,000 2026 $ 2,695,000 5,450,000 5,800,000 Westgate recognizes revenue over time according to percentage of completion. 3. 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. Balance Sheet (Partial) Current assets: Current liabilities. 2024 2025 0 0