Checy 1 Part 10 15 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 2021 903 2023 Cost incurred during the year $2,600,000 $4,012.000 $1,40,400 Estimated costs to complete of year-end 5,796.000 1.764.000 Billings during the year 3.000.000 4, 5,000 1,364,000 Cash collection during the year 1,820,000 4,000,000 0,00 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.) 2022 2023 5 $ 221 3 100.000 90.000 Gross profits