Check my we 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: 2022 2021 2023 Cost incurred during the year $2,044,000 $2,628,000 $2,890,800 Estimated costs to complete as of year-end 5,256,000 2,628,000 Billings during the year 2,170,000 Cash collections during the year 1,885,000 2,502,000 5,328,000 2,600,000 5,515,000 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 intermediate calculations. Loss amounts should be indicated with a minus sign.) 2021 2022 Revenue $ 2,800,000 Gross profit (loss) $ 756,000 2023 < Prev 2 S 3 4 5 of 5 Next >