ments 6 and 7 0 Saved Required Information (The following information applies to the questions displayed below) In 2018, 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 2020. Information related to the contract is as follows: 2820 $2,074,6ee Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2018 $2,542, eee 5,658, Bee 2,eze, eee 1,81e, eee 2019 $3,772,eee 1,886,00 4,294,000 3,880, eee 3,686, eee 4,39e, eee 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 the three years assuming the following costs curred and costs to complete information. (Do not round Intermediate calculations and round your final answers to the nearest hole dollar amount. Loss amounts should be Indicated with a minus sign.) PIN 5252eee 5,658,eee Cost incurred during the year Estimated costs to complete as of year-end PAT $3 B1, 3,118,eee PE 210,988 2018 2019 2020 Revenue Bross profit (Loss) - Assignments 6 and 7 Seved Required information [The following information applies to the questions displayed below) In 2018, 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 2020. Information related to the contract is as follows: 2020 $2,274,600 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2018 $2,542,000 5,658,000 2,92e, eea 1,810, 800 2019 $3,772, ea 1,886, cee 4,294,808 31,800,000 3,686, eee 4,390,000 Westgate recognizes revenue over time according to percentage of completion nces 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 (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.) 2018 $2,542,000 5,658,600 Cost incurred during the yean Estimated costs to complete as of year-end 2019 $3,810,000 4,120,000 2029 $3,930,000 2018 2019 2020 Revenue Gross profit closs) Neyt