In 2021, the Eastgate Construction Company entered into a contract to construct a bridge for $12,000,000. The bridge was completed in 2023. Information related to the contract is as follows: 2023 $4,500,000 2021 $1,840,000 $6,160,000 $3,000,000 $2,600,000 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during thee year 2022 $3,760,000 $4,400,000 $4,000,000 $3,900,000 $0 $5,000,000 $5,100,000 Eastgate recognizes revenue over time according to percentage of completion. What gross profit (loss) will Eastgate record on the contract for 2022? Multiple Choice $0 O $2,000,000 O $1,120,000 O $200,000