1 75 points Required Information [The following information applies to the questions displayed below) In 2024, 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 2026 Information related to the contract is as follows Book 2024 cost incurred during the year, Estimated costs to complete as of year-end Billings during the year Pint Cash collections during the year $ 2,542,000 5,658,000 2,820,000 1,810,000 2025 $3,772,000 2026 $2,074,600 4,254,000 3,586,000 4,390,000 Westgate recognizes revenue over time according to percentage of completion References Required: 1. Calculate the amount of revenue and gross profit poss) to be recognized in each of the three years Note: Do not round Intermediate calculations. Loss amounts should be indicated with eminus sign. 2004 2025 2020 Revenue $ Gross prof (loss) 1.5 3,100,000 $ 550,000 $ 4.600,000 $ 801,000 2.300.000 252.400