-- Required information [The following information applies to the questions displayed below.] During 20x2, Long Construction Corporation entered into a fix price contract to construct a two-lane bridge for $10,000,000. The bridge was completed in 20x4. Information related to the contract is as follows: Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 20x2 $2,072,000 20x3 $2,738,000 20x4 $2,849,000 5,328,000 2,160,000 1,880,000 2,590,000 2,650,000 5,190,000 2,700,000 5,420,000 0 Long 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.) Revenue Gross profit (loss) 20x2 20x3 20x4