Calculate the amount of revenue and gross profit (loss) to be recognized in each of the 3 years.

STAY POSITIVE 2 History Bookmarks Window Help Help Required information The following information applies to the questions displayed belowj In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara $10,000,000. The road was completed in 2020. Information related to the contract is as follows: Cost ineurred during the year $2,542,000 $3,772,000 $2,074,500 Estinated costs to complete as of year-end5, 658, 000 . 886.000 Billings during the year Cash collections during the year 2,020,000 4,294,0003.686,000 1,810,090 3,800,000 4,390,000 Westgate recognizes revenue over time according to percentage of completion. Required 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. (Do not round i calculations. Loss amounts should be indicated with a minus sign.) 2018 2019 2020 Revenue Gross profit (oss)558.000 MacBook Air