Kingbird Construction, Inc. experienced the following construction activity in 2021, the first year of operations. Cash Collections Total Contract Billings Through Costs Incurred Through Estimated Additional Costs to Through Contract Price 12/31/21 12/31/21 12/31/21 Complete X $269,000 $179,000 $164,000 $200,000 $ 72,000 Y 339,000 124,000 124,000 118,000 261,000 Z 242,000 242,000 216,000 176,000 -0- $850,000 $545,000 $504,000 $494,000 $333,000 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. Kingbird uses the completed-contract method. Kingbird Construction, Inc. Partial Income Statement For the Year 2021 $