Required information The following information applies to the questions displayed below.) In Year 1, Golden Gate Builders entered into a contract to construct a bridge for San Fran County for $10,000,000. The road was completed in Year 3. Information related to the contract is as follows: Year 1 Year 2 Year 3 Cost incurred during the year $2,100,000 32,450,000 $2,695,000 Estimated costs to complete as of year-end 4,900,000 2,450,000 Billings during the year 2,200,000 2,350,000 5,450,000 Cash collections during the year 1,900,000 2,300,000 5,800,000 0 Golden Gate 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.) Year 1 Year 2 Year Revenge Gross profitoss)