Bogue Construction Limited $($BCL$)$ is located it St$.$ Mary, Jamaica. It started work on two construction projects during the year ended $31$ December $2017.$ The nature of both contracts is that the customer controls the asset as the project goes forward. Work is certified by a surveyor as performance obligations are completed. The following figures relate to two projects at the end of the reporting period.Contract priceCosts incurred to dateEstimated costs to completionValue of work certified to dateProgress Billings $($amt$.$ invoiced$)$Cash received on invoicedHopewell Project$$\text{'}0009,0001\mathrm{.}7006,6002,8002,4002,100$Golden Project$$\text{'}0008,0002,8005,7003,0003,1002,400$A sinkhole was discovered under the site for the Hopewell project and the costs of dealing with this have been taken into account in the calculation of estimated costs to completion.FCL$\text{'}$s lawyers are virtually certain that the customer will have to bear the additional costs of $$3,000,000$ which will be incurred in stabilizing the land. Bogue Construction Limited recognizes revenues and profits on construction contracts on the basis of work certified to date.REQUIRED:a$)$ Calculate the figures which would appear in FCL$\text{'}$s financial statements in respect of these two projects for $2017.$