Skysong Construction, Inc. experienced the following construction activity in 2021, the first year of operations. Cash Contract Total Billings Collections Contract Through Through Price 12/31/21 12/31/21 $254,000 $164,000 $149,000 324,000 109,000 109,000 227,000 227,000 186,000 $805,000 $500,000 $444,000 Costs Estimated Incurred Through Additional Costs to 12/31/21 Complete $170,000 $ 57,000 88,000 246,000 146,000 -0- $404,000 $303,000 Y Z Each of the above contracts is with a different customer, and any work remaining at December 31, 2021 is expected to be completed in 2022. Prepare a partial income statement to indicate how the above contract information would be reported. Skysong uses the completed-contract method. Skysong Construction, Inc. Partial Income Statement For the Year 2021 Prepare a partial balance sheet to indicate how the above contract information would be reported. Skysong uses the completed-contract method. (List Current Assets in order of liquidity.) Skysong Construction, Inc. Partial Balance Sheet As of 12/31/18 V V