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: 2818 2828 2819 $2,648,980 2,388,80 $2,926,98e Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 6,169,988 2,668,99e 2,888,99e 1,848,9 2,80e,988 5,86e,99e 5, 368,99e 2,868,99e Westgate recognizes revenue over time according to percentage of completion. Requlred AEalculate the amount of revenue and gross profit (loss) to be recognized In each of the three years. 2 In the journal below, complete the necessary journal entries for the year 2018 (credit "Varlous accounts" for construction costs Incurred). In the Journal below. com plete the necessary Journal entries for the year 2019 (credit "Varous accounts' for construction costs In the Journal below, complete the necessary Journal entries for the year 2020 (credit "Various accounts" for construction costs 3 Bomplete the Information required below to prepare a partial balance sheet for 2018 and 2019 showing any items related to the 4. Galculate the amount of revenue and gross profit (loss) to be recognized In each of the three years assuming the following costs Incurred). act Incurred and costs to complete Information. 2818 2819 $2,648,980 $3,848,9e $3,248,9ee 2828 Cost incurred during the year Estimated costs to complete as of year-end 6,168,99 3,148,9e0 5. Galculate the amount of revenue and gross profit (loss) to be recognized In each of the three years assuming the following costs urred and costs to complete Information 2818 2819 2828 Cost incurred during the year Estimated costs to complete as of year-end $2,648,90 $3,848,0 $4,028,9e0 4,189,908 6,16e,998 Complete this question by entering your answers in the tabs below Req 1 Req 2A Req 2B Req 2C Req 3 Req 4 Req 5 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. (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.) 2018 2019 2020 Revenue Gross profit (loss)