Pina Construction, Inc. experienced the following construction activity in 2021, the first year of operations. Contract X Y Total Contract Price $267,000 337,000 240,000 $844,000 Billings Through 12/31/21 $177,000 122,000 240,000 $539,000 Cash Collections Through 12/31/21 $162,000 122,000 212,000 $496,000 Costs Incurred Through 12/31/21 $196,000 114,000 172,000 $482,000 Estimated Additional Costs to Complete $ 70,000 259,000 -0- $329,000 Each of the above contracts is with a different customer, and any work remaining at December 31, 2021 is expected to be completed in 2022. Prepare a partial income statement to indicate how the above contract information would be reported. Pina uses the completed-contract method. Prepare a partial income statement to indicate how the above contract information would be reported. Pina uses the completed-contract method. Pina Construction, Inc. Partial Income Statement For the Year 2021 Revenue from Long-Term Contracts (Contract Z) $ $ 240000 Cost of Construction (Contract Z) > 172000 Gross Profit/(Loss) > $ 68000 Provision for Income/(Loss) (Contract Y)