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 $2,550,000 $4,250,000 $1,870,000 Estimated costs to complete as of year-end 5,950,000 1,700,000 Billings during the year 2,050,000 4,750,000 3,200,000 Cash collections during the year 1,825,000 4,100,000 4,075,000 Westgate recognizes revenue over time according to percentage of completion. Required: 1. Calculate the amount of revenue and gross profit to be recognized in each of the three years. (Do not round intermediate calculations. Loss amounts should be indicated with a minus sign.) 2017 2016 2018 Revenue Gross profit (loss)