On January 1, 2020 X company entered into a contract with a customer to construct a specialized building for and agreed price of 150,000. At December 31,2020 X company had incurred costs of 40,000 and estimated that costs to complete are 70,000. X measures progress using the input method based on costs incurred. At December 31, 2020 x company received 28,000 from the customer. How should the above contract be reflected in the financial statements of x company 31 December 2020. IF