PART $1$: FALCON LTD A company has the following information in relation to a construction contract at $31$ December $2020$: $$ Total Contract Value $3,800,000$ Cost Incurred to date $1,794,000$ Estimated cost to completion $506,000$ Value of Work Certified to date $3,116,000$ Invoices raised to the customer to date $1,550,000$ Progress payments received to date $1,440,000$ Requirement: a$)$ Calculate Income Statement and Statement of Financial Position extracts if the stage of completion of the contract is calculated using an input method. b$)$ Calculate Income Statement and Statement of Financial Position extracts if the stage of completion of the contract is calculated using an output method.