! Required information The following information applies to the questions displayed below.] In 2021, 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 2023. Information related to the contract is as follows: 2021 $2,580,000 6,020,000 2,060,000 1,830,000 2022 2023 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year $2,175,800 0 $4,042,000 1,978,000 4,562,000 4,200,000 3,378,000 3,970,000 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.) 2021 2022 2023 Revenue Gross profit (loss) 3,000,000 420,000