Kiewit Cotporation is an American construction company based in Omaha. Nebraska founded in 1884 . Kiewit Corporation constructed a new subdivision during 2023 and 2024 under contract with Desert Development Company. Relevant data are summarized below: Kiewit Corporation recognizes revenue upon completion of the contract. In its December 31,2023 , balance sheet, Kiewit Corporation would report Multiple Choice the contract asset, contract amount in excess of billings, of $1,635,000 the contract liability, billings in excess of cost, of $375,000. the contract asset, cost and profits in excess of bilings, of $515,000. the contract asset, deferred profit, of $460,000