SB Problem Beavis Construction Company was the low bidder on a construction project to build an earthen dam for $1,870,000. The project was begun in 2015 and completed in 2016. Cost and other data are presented below 2015 2016 Costs incurred during the year 429,000 $1,170,000 0 435,000 1,435,000 Cash collections during the year 335,000 1,535,000 Estimated costs to complete Billings during the year 1,001,000