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: Cost incurred during the year 2021 2022 2023 $2,100,000 $3,150,000 $2,475,000 5,400,000 2,250,000 Estimated costs to complete as of year-end Billings during the year 0 2,150,000 3,100,000 4,750,000 1,875,000 3,100,000 5,025,000 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. (Do not round intermediate calculations. Loss amounts should be indicated with a minus sign.) Revenue Gross profit (loss) 2021 2022 2023 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: Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 $2,100,000 2022 $3,150,000 5,400,000 2,250,000 2,150,000 3,100,000 4,750,000 1,875,000 3,100,000 5,025,000 2023 $2,475,000 8 Westgate recognizes revenue over time according to percentage of completion. 2-a. In the journal below, complete the necessary journal entries for the year 2021 (credit "Various accounts" for construction costs incurred). 2-b. In the journal below, complete the necessary journal entries for the year 2022 (credit "Various accounts" for construction costs incurred). 2-c. In the journal below, complete the necessary journal entries for the year 2023 (credit "Various accounts" for construction costs incurred)