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 Billings during the year 2024 $ 2,640,000 6,160,000 2,080,000 2025 2026 $ 2,300,000 2,660,000 2,860,000 $ 2,926,000 0 Cash collections during the year 1,840,000 2,800,000 5,060,000 5,360,000 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