Required information 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:

	2018			2019			2020
Cost incurred during the year	$	2,291,000		$	3,555,000		$	2,259,400
Estimated costs to complete as of year-end		5,609,000			2,054,000			0
Billings during the year		2,110,000			3,736,000			4,154,000
Cash collections during the year		1,855,000			3,500,000			4,645,000

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. (Do not round intermediate calculations. Loss amounts should be indicated with a minus sign.)