Required information [The following information applies to the questions displayed below.] 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: Cost incurred during "the year Estimated costs to complete as of year-end Cash collections during the year Billings during the year. 2024 $ 2,016,000 5,184,000 2025 2026 $ 2,808,000 2,376,000 2,644,000 $ 2,613,600 2,500,000 5,176,000 5,610,000 2,180,000 1,890,000 Westgate recognizes revenue over time according to percentage of completion. 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: Current liabilities: 2024 2025 0 0 Check my