In 2021, 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 2023.

Information related to the contract is as follows: 2021 2022 2023

Cost incurred during the year $ 2,610,000 $ 3,162,000 $ 2,230,800

Estimated costs to complete as of year-end 6,390,000 2,028,000 0

Billings during the year 2,100,000 3,672,000 4,228,000

Cash collections during the year 1,850,000 3,000,000 5,150,000

Westgate recognizes revenue over time according to percentage of completion.

Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years. (Do not round intermediate calculations. Loss amounts should be indicated with a minus sign.)