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4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and

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4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.) Required information [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: r Westgate recognizes revenue over time according to percentage of completion. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing ar ems related to the contract. (Do not round intermediate calculations.) 5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.)

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