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: 2025 2024 2026 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year $ 2,184,000 5,616,000 2,120,000 $ 3,510,000 $ 2,316,600 2,106,000 3,574,000 1,860,000 3,400,000 4,306,000 4,740,000 Westgate recognizes revenue over time according to percentage of completion. Problem 6-10 (Algo) Part 4 4. 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. Costs incurred during the year Estimated costs to complete as of year-end > Answer is not complete. 2024 Revenue $ 2,800,000 Gross profit (loss) 2025 2026 2024 $ 2,184,000 5,616,000 2025 $ 3,860,000 3,160,000 2026 $ 3,260,000