Check my work 5 Required information [The following information applies to the questions displayed below.] Part 1 of 5 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: 6 points Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 $2,059,000 5,041,000 2,190,000 1,895,000 2022 $2,627,000 2,414,000 2,496,000 2,400,000 2023 $2,655,400 0 5,314,000 5,705,000 eBook Print References 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.) points 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.) eBook Print 2021 2022 2023 References Revenue $ $ 7,100,000 2,900,000 841,000 Gross profit (loss) $