In 2018, 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 2020. Information related to the contract is as follows $2,100,e00 $2,450,000 52,695,00e Cost incurred during the ye Estinated costs to complete as of year-end Billings during the year Cash collections during the year 4,989,00 2,458,e08 2,200,000 2,350,000,4se,e8 1,900,000 2,300,000 5,800,e00 Westgate recognizes revenue over time according to percentage of completion 1. Calculate the amount of revenue and gross profit (loss) to be recognired in each of the three years 2-a. In the journal below, complete the necessary journal entries for the year 2018 (credit Various accounts" for construction costs incurred). 2-b. In the journal below, complete the necessary journal entries for the year 2019 (credit Various accounts' for construction costs incurred) 2-c. In the journal below, complete the necessary journall entries for the year 2020 (credit "Various accounts" for construction costs incurred) 3. Complete the information required below to prepare a partial balance sheet for 2018 and 2019 showing any items related to the contract 4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. Cost incurred during the year Estimated costs to complete as of year-end $2,180,000 $3,9e,080 $3, 300,00 4,9e0, 000 3,200,e0e S. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information Next arch 4 5 6 8