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I NEED HELP ASAP PLEASE AND THANKYOU!!! (If possible please show the calculations that explain how to get the numbers; I'm struggling severely with understanding

I NEED HELP ASAP PLEASE AND THANKYOU!!!

(If possible please show the calculations that explain how to get the numbers; I'm struggling severely with understanding this topic)

Thank You!!!

image text in transcribed Required Information Problem 6-10 (Algo) Long-term contract; revenue recognition over time [LO6-8, 6-9] [The following Information applles to the questions displayed below.] In 2024, 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 2026 . Information related to the contract Is as follows: Westgate recognizes revenue over time according to percentage of completion. Problem 6-10 (Algo) Part 1 Required: I. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. Note: Do not round Intermedlate calculatlons. Loss amounts should be Indlcated with a minus sign

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