Sonic Construction Company has the following information. PAY ATTENTION TO DATES! Gross contract price of building $120,000,000 $120,000,000 $120,000,000 Estimated total cots at the beginning of the $98,500,000 $88,750,000 $88,750,000 contract Contract start date 1/1/Year 1 Completion date End of Year 3 YEAR 1 YEAR 2 YEAR 3 Costs to date $24,100,000 $45,900,350 $88,750,000 Estimated costs to complete $74,400,000 $42,849,650 $ -0 - Progress billings during the year $26,000,000 $39,850,100 $54,149,900 Cash collected during the year $38,710,000 $36,600,800 $44,689,200When preparing the balance sheet at the END of year 2 indicate the amount of the net asset or net liability the company has.Regarding the question above does the company have an asset or liability? asset O liability