! Required information [The following information applies to the questions displayed below.] In 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: Cost incurred during the year Estimated costs to complete as of year-end 2024 2025 $ 2,100,000 4,900,000 2,200,000 $ 2,450,000 2,450,000 2,350,000 2026 $ 2,695,000 0 5,450,000 1,900,000 2,300,000 5,800,000 Billings during the year Cash collections during the year 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. Note: Do not round intermediate calculations. Loss amounts should be indicated with a minus sign. Revenue Gross profit (loss) 2024 2025 2026