Required information [The following information applies to the questions displayed below) In 2021, 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 2023. Information related to the contract is as follows: Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 $2,400,000 5,600,000 2,000,000 1,800,000 2022 53,600,000 2,000,000 4,000,000 3,600,000 2023 $2,200,000 4,000,000 4,600,000 Westgate recognizes revenue over time according to percentage of completion 3. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related to the contract. (Do not round intermediate calculations.) 2021 2022 $ 200,000 $ 600.000 Balance Sheet (Partial) Current assets Accounts receivable Construction in progress Less Bilings Costs and profit in excess of billings Current liabilities Costs and profit in excess of billings 0 0