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: 2024 2025 2026 Cost incurred during the year Estimated costs to complete as of year-end $ 2,400,000 5,600,000 Billings during the year 2,000,000 $ 3,600,000 2,000,000 4,000,000 $ 2,200,000 0 4,000,000 Cash collections during the year 1,800,000 3,600,000 4,600,000 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. Note: Do not round intermediate calculations. Loss amounts should be indicated with a minus sign. 2024 2025 2026 Revenue $ 3,000,000 $ 34,000,000 $ 3,600,000 Gross profit (loss) $ 6,000,000