In 2024 , 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 2026. 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 (loss) to be recognized in each of the ihree years. Note: Do not round intermediate calculations. Loss amounts should be indicated with a ninus sign. In 2024 , 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 2026. Information related to the contract is as follows: Westgate recognizes revenue over time according to percentage of completion. 3. Complete the information required below to prepare a partial balance sheet for 2024 and 2025 showing any items related to the contract. Note: Do not round intermediate calculations. Westgate recognizes revenue over time according to percentage of completion. . Calculate the amount of revenue and gross profit (loss) to be recognized in each of he three years, assuming the following costs incurred and costs to complete formation. lote: Do not round intermediate calculations and round your final answers to the earest whole dollar amount. Loss amounts should be indicated with a minus sign. Westgate recognizes revenue over time according to percentage of completion. 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. Note: 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