n $2024,$ 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:

$202420252026$

Cost incurred during the year $ $2,059,000$ $ $2,627,000$ $ $2,655,400$

Estimated costs to complete as of year$-$end $5,041,0002,414,0000$

Billings during the year $2,190,0002,496,0005,314,000$

Cash collections during the year $1,895,0002,400,0005,705,000$

Westgate recognizes revenue over time according to percentage of completion.

$5.$ 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.

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.

$202420252026$

Costs incurred during the year $ $2,059,000$ $ $3,895,000$ $ $4,185,000$

Estimated costs to complete as of year$-$end $5,041,0004,290,0000$