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 $2,156,000 5,544,000 2, 130,000 1,865,000 2022 $3,388,000 2,156,000 3,414,000 3,300,000 2023 $2,371,600 0 4,456,000 4,835,000 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 $ $ 3,079,220 Revenue Gross profit (loss) 2,800,000 644,000 4,400,000 $ 1,012,000 $ $