| Question 5.1 (Total: 20 marks; 2 marks per line) [in January 1, 2022, 'Ii'iiinter Harvest Ltd. started a construction project for 0 4,500,000. Fieleyant data for 2022 and 2023 are as follows: 2022 2023 Current year construction costs 3 $ 620 000 3,300,000 ' Estimated remaining costs to 000,000 4:" complete Current year billings 3,100,0001,400,000 Current year collections 3,000,0001,500,000 Required 1. Calculate the following amounts for each method: Completed Percentage of Contract Completion 20 22 2023 2022 2023 Gross Prot $1? 3 ? S? $ ? Construction in progress year-end $ 1? S ? 3 ? S ? balance. Costs in excess of billings (Billings in $1? 3 ? 3? S ? excess of costs}