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:

$202420252026$

Cost incurred during the year $ $2,184,000$ $ $3,510,000$ $ $2,316,600$

Estimated costs to complete as of year$-$end $5,616,0002,106,0000$

Billings during the year $2,120,0003,574,0004,306,000$

Cash collections during the year $1,860,0003,400,0004,740,000$

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.

Note: Do not round intermediate calculations. Loss amounts should be indicated with a minus sig