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: Cost incurred during the year Estimated costs to complete as of year-end 2024 $ 2,156,000 5,544,000 2,130,000 2025 2026 $ 3,388,000 2,156,000 3,414,000 $ 2,371,600 0 4,456,000 1,865,000 3,300,000 4,835,000 Billings during the year Cash collections during the year Westgate recognizes revenue over time according to percentage of completion. Problem 6-10 (Algo) Part 1 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. Revenue Gross profit (loss) 2024 2025 2026