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 2022 2021 $2,490,000 $3,984,000 2023 $2,008,600 5,810,000 2,030,000 1,815,000 1,826,000 4,444,000 3,526,000 3,900,000 4,285,000 0 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 co the contract. (Do not round intermediate calculations.) Balance Sheet (Partial Current assets: Current liabilities: 2021 0 2022