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 climpletion. 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 2024 and 2025 showing any items related to the contract. Indicate whether any of the amounts shown are contract assets or contract liabilitics: 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 proft to be recognized in cach of the three years, assuming the following costs incurred and costs to complete information