Required information Problem 6-10 (Algo) Long-term contract, revenue recognition over time [LO6-8, 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: 2023 $2,926,000 Cost Incurred during the year Estimated costs to complete as of year end Billings during the year Cash collections during the year 2021 $2,640,000 6,160,000 2,000,000 1,340,000 2022 $2,300,000 2,660,000 2,360,000 2.800,000 5,060,000 5.360,000 Westgate recognizes revenue over time according to percentage of completion hces Problem 6-10 (Algo) Part 3 the 3. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related contract. (Do not round Intermediate calculations) 7021 2072 Balance Sheet (Partial Current assets FAccounts receive Construction in progress Los Biling Costs and prolt in excess of billings Current abilities