In 2024, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2026. Information related to the contract is as follows: 2024 $ 2,550,000 5,950,000 2,050,000 1,825,000 2025 $4,250,000 1,700,000 4,750,000 4,100,000 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year Westgate recognizes revenue over time according to percentage of completion. 2026 $ 1,870,000 0 3,200,000 4,075,000 3. Complete the information required below to prepare a partial balance sheet for 2024 and 2025 showing any items related to the contract. Note: Do not round intermediate calculations. Balance Sheet (Partial) Current assets: Accounts receivable Construction in progress Less: Billings Current liabilities: 2024 0 0 2025 0 0