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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

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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: 2022 2023 $2,890,8ee Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 $2,844,00 5,256,eee 2,170, eee 1,885, eee $2,628,000 2,628, eee 2,502,000 2,600,eee 5,328,00 5,515,00 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)

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