In 2016, 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 2018. Information related to the contract is as follows: 2016 2017 2018 Cost incurred during the year $2,856,000 $3,780,000 $1,940,400 Estimated costs complete as of year-end 5,544,000 1,764,000 Billings during the year 2,400,000 4,236,000 3,364,000 Cash collections during the year 2,160,000 4,000,000 3,800,000 Westgate Construction uses the completed contract method of accounting for long-term construction contracts Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years Loss amounts should be indicated with a minus sign 2017 2016 2018 Revenue Gross profit (loss)