In 2021, the Westgate Construction Company enter ato a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Inmotion related to the contract is as follows Cost incurred during the year Estimated costs to complete as of year-end 2022 2021 $2,400,000 5,600,000 2,000,000 4,000,000 4,000,000 1,800,000 3,600,000 4,600,000 2023 $3,600,000 $2,200,000 2,000,000 Billings during the year Cash collections during the year Westgate recognizes revenue over time according to percentage of completion. Costs incurred during the year Estimated costs to complete as of year-end Revenue Gross profit (loss) 2021 $2,400,000 5,600,000 2022 $3,800,000 4,100,000 2021 2022 2023 2023 $3,900,000