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 $ 2,072,000 $ 2,738,000 $ 2,849,000 Estimated costs to complete as of year end 5,328,000 2,590,000 0 Billings during the year 2,160,000 2,650,000 5,190,000 Cash collections during the year 1,880,000 2,700,000 5,420,000 Westgate recognizes revenue over time according to percentage of completion 4 Calculate the amount of revenue and gross profit to be recognized in each of the three years assuming the following costs incurred and costs to complete information (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount Loss amounts should be indicated with a minus sign ) Cost incurred during the year Estimated costs to complete as of year end 2016 2017 2018 $2,072,000 $3,880,000 $3,280,000 5 328,000 3,180,000 0 X Answer is not complete 2016 2017 2018 Revenue 2,800,000 s 728,000 3,717,740 162,260) 3 482,260 Gross profit (loss)

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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

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	$	2,072,000	$	2,738,000	$	2,849,000
Estimated costs to complete as of year-end		5,328,000		2,590,000		0
Billings during the year		2,160,000		2,650,000		5,190,000
Cash collections during the year		1,880,000		2,700,000		5,420,000

Westgate recognizes revenue over time according to percentage of completion.

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4. Calculate the amount of revenue and gross profit to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.) Cost incurred during the year Estimated costs to complete as of year-end 2016 2017 2018 $2,072,000 $3,880,000 $3,280,000 5.328,000 3,180,000 0 X Answer is not complete. 2016 2017 2018 Revenue 2,800,000 s 728,000 3,717,740 162,260) 3.482,260 Gross profit (loss)