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Wildhorse Enterprises Ltd. has entered into a contract beginning in February 2023 to build two warehouses for Indigo Structures Ltd. The contract is a non-cancellable

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Wildhorse Enterprises Ltd. has entered into a contract beginning in February 2023 to build two warehouses for Indigo Structures Ltd. The contract is a non-cancellable fxced-price contract for $10 million. The following data pert ain to the construction period (all figures in thousands). The construction industry has experienced significant expansion, making construction materials and labour more costly than originally estimated. Wildhorse finds it extremely difficult to estimate the costs to complete construction and therefore difficult to estimate the Dercentage complete. It must account for the construction project asing the zero-profit method What is the balance in the Contract Asset/Liability account at December 31, 2023 and 2024

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