Tinka Ltd signs a contract on 1 May 2018 to build an office building. The construction is scheduled to commence 1 July 2018 and the estimated date of completion is 30 June 2021. The cost of the building is estimated to be $120m and the total contract price is fixed at S134m. The following data relates to the construction period 2019 S'000 48.000 72,000 40.000 19.000 For the vear ended 30 June 2020 S'000 84.000 36,000 84.000 79.000 2021 S'000 120,000 Costs to date Estimated Costs to complete Progress billings to date Cash received to date 134,000 134,000 Assume that actual costs and cash collections coincide with expectations and that cost (an input measure) is used as the basis for assessing progress on the construction contract. Required Assuming the level of progress can be reliably measured: a) Determine the percentage of completion for 2019, 2020 and 2021 (11 marks) 2021 S 000 2019 2020 S000 S000 Costs to date Costs incurred for the year Estimated costs to complete Estimated total cost Per cent of completion (POC)