Part (C) In 20X1, Eastern Builders Inc. agreed to construct a building for a large multinational corporation at a total contract price of $5,000,000.The contract covers a four-year period and the building is expected to be completed in 20X4. Information relating to the costs and billings for this contract is as follows 20X1 $1,200,000 $2,400,000 $3,300,000 $5,900,000 $2,800,000 $2,400,000 $2,200,000 $2,100,000 $2,300,000 $5,000,000 $5,000,000 1.800,000 $2,200,000 $4,800,000 S5,000,000 20X2 20X3 20X4 Costs incurred to date (vear end Estimated costs to complete Progress billings to date Cash collected to date You have examined all the relevant factors and concluded that the outcome of the construction contract cannot be reliably estimated. Eastern Builders Inc. is listed on the TSX and hasa December 31 year end Required Determine the relevant amounts that Eastern Builders Inc. should report on its income statements for the years 20X1, 20X2, 20X3, and 20X4 in relation to the above construction contract. Summarize your answers and provide the appropriate amounts directly in the following table Ignore effects of income taxes. 20X1 20X2 20X3 20X4 Partial Income Statement for the vear: Construction revenue Construction expense Gross profit (loss) on LT contracts