Thrasher Construction Co. was contracted to construct a building for $975,000. The building is owned by the customer throughout the contract period. The contract provides for the progress payments. Thrashers accounting year ends 31 December. Work began under the contract on 1 July 20X5, and was completed on 30 September 20X7. Construction activities are summarized below by year:

20X5 Construction costs incurred during the year, $180,000; estimated costs to compete, $630,000; progress billings during the year, $153,000; and collections, $140,000.

20X6 Construction costs incurred during the year, $450,000; estimated costs to compete, $190,000; progress billings during the year, $382,500; and collections, $380,000.

20X7 Construction costs incurred during the year, $195,000. Because the contract was completed, the remaining balance was billed and later collected in full per the contract.

required:

1. Provide the balances that would be shown on the SCI and SFP for this contract for each year.