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: Westgate recognizes revenue over time according to percentage of completion. Required: 1. Calculate the amount of revenue and gross profit to be recognized in each of the three years. 2. Prepare all necessary journal entries for each of the years (credit "Cash, Materials, etc." for construction costs incurred). 3. Prepare a partial balance sheet for 2021 and 2022 showing any items related to the contract. Indicate whether any of the amounts shown are contract assets or contract liabilities. 4. Calculate the amount of revenue and gross profit to be recognized in each of the three years assuming the following costs incurred and costs to complete information: 5. Calculate the amount of revenue and gross profit to be recognized in each of the three years assuming the fo lowing costs incurred and costs to complete information: EDGAR, the Electronic Data Gathering. Analysis, and Retrieval system, performs automated collection. validation, indexing, and forvarding of submissions by companies and others who are required by law to file forms with the U.S. Securities and Exchange Commission (SEC). All publicly traded domestic companies use EDGAR to make the majority of their filings. (Some foreign companies file voluntarily.) Form 10-K, which includes the annual report, is required to be filed on EDGAR. The SEC makes this information available on the Internet. Requlred: 1. Aceess EDGAR on the Internet. The web address is www.sec.gov. 2. Search for the most recent 10-K's of Expedia, Inc., and Booking Holdings Inc. (which includes Priceline). Search or scroll to find the revenue recognition note in the financial statements. 3. For each of the following types of revenue, indicate whether the amount shown in the income statement is "net" or "gross" (the terms used with respect to revenue recognition in the chapter), and briefly explain your answer. a. Expedia's "merchant hotel model" revenues b. Priceline's "'Name Your Own Price' services" c. Priceline's "Merchant Retail Services" 4. Consider your responses to 3 a through 3c. Does it look like there is the potential for noncomparability when readers consider Expedia and Priceline? Indicate "yes" or "no," and briefly explain your