Required information Problem 6-10 (Algo) Long-term contract; revenue recognition over time (L06-8, 6-9] [The following information applies to the questions displayed below. In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows: 2021 2022 2023 Cost incurred during the year $2,550,000 $4,250,000 $1,870,000 Estimated costs to complete as of year-end 5,950,000 1,700,000 Billings during the year 2,050,000 4,750,000 3,200,000 Cash collections during the year 1,825,000 4,100,000 4,075,000 ces Westgate recognizes revenue over time according to percentage of completion C 5 6 of 7 Next > Check my work ! Required information 3. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related to the contract. (Do not round intermediate calculations.) Balance Sheet (Partial) Current assets 2021 2022 0 0 Current liabilities: S 4 uns 6 of 7 2. (ENG N 0 P X a W O