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Wildhorse Enterprises Ltd. has entered into a contract beginning in February 2020 to build two warehouses for Atlantis Structures Ltd. The contract is a non-cancellable fixed price contract for $10.2 million. The following data pertain to the construction period. 2020 2021 2022 Costs for the year $3.690.000 4.510.000 1.700.000 Estimated costs to complete 4.510.000 1.800.000 -0- Progress billings for the year (non-refundable) 3.365.000 3,935,000 2.900.000 Cash collected for the year 2.965,000 3.985.000 3,250,000 Part 1 Your answer is correct. Using the percentage-of-completion method, calculate the percent complete for each year of the contract. 2020 2021 2022 Percent complete 45 % 82 100 Attempts: 1 of 3 used Your answer is partially correct. Show how the construction contract would be reported on the SFP and the income statement for the year ended December 31, 2021. (List Current assets in order of liquidity. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45)) WILDHORSE ENTERPRISES LTD. Partial Statement of Financial Position December 31, 2021 Total Assets $ Ol WILDHORSE ENTERPRISES LTD. Partial Income Statement Year Ended December 31, 2021 $ DIO Net Income /(Loss) $ Attempts: 1 of 3 used

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