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.