Required information

[The following information applies to the questions displayed below.] In 2018, 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 2020. Information related to the contract is as follows:

	2018			2019			2020
Cost incurred during the year	$	2,580,000		$	4,042,000		$	2,175,800
Estimated costs to complete as of year-end		6,020,000			1,978,000			0
Billings during the year		2,060,000			4,562,000			3,378,000
Cash collections during the year		1,830,000			4,200,000			3,970,000

Westgate recognizes revenue over time according to percentage of completion.

rev: 09_15_2017_QC_CS-99734

3. Complete the information required below to prepare a partial balance sheet for 2018 and 2019 showing any items related to the contract. (Do not round intermediate calculations.)