PRESENT PARTIAL INCOME STATEMENT AND BALANCE SHEET RELATING TO THIS LONG-TERM CONSTRUCTION CONTRACT!!!!

2016 2015 $675,000 287,400 $675,000 170,100 Illustration: Casper Construction Co. 2014 Contract price $675,000 Cost incurred current year 150,000 Estimated cost to complete in future years 450,000 Billings to customer current year 135,000 Cash receipts from customer Current year 112,500 170,100 360,000 180,000 262,500 300,000 Present partial Income Statement and Balance Sheet relating to this long-term construction contract