The following information relates to Contract 6502, which was undertaken for the construction of roadways for the City Council. The total value of the contract was $250,000 and it is at a stage where profits can be attributed to it. Details of the contract are shown in the books: Materials sent to site Labour engaged on site Plant installed at cost Direct expenditure General overhead charges Materials returned to store Work certified Cost of work not certified Materials on hand, December 31 Wages accrued on December 31 Direct expenditure accrued on Dec 31 Value of plant December 31 Cash received on account amount Required: $ 85,349 74,375 15,000 4,136 3,167 549 195,000 4,500 1,883 2,400 240 11,000 180,000 (a) Prepare the Contract Account as at December 31, 2019. (b) Prepare the Contract P&L account for the year ended December 31, 2019. (c) Prepare the Contractee Account as at December 31, 2019.