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Chapter 6 Homework 0 Saved Help Save 9. Exit Submlt 0 You skipped this question in the previous attempt. 4 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 La\" 1 f4 $10,000,000. The road was completed in 2023. Information related to the contract is as follows: 2021 2022 2023 2 cost: incurred during the year $2,156,000 $3,388,000 $2,371,600 pmnu Estimated costs to complete as of year-end 5,544,000 2,156,000 0 Billings during the year 2,130,000 3,414,000 4,456,000 Cash collections during the year 1,865,000 3,300, 000 4,835, 000 Westgate recognizes revenue over time according to percentage of completion. eBook El an Required: \"1' 1. Calculate the amount of revenue and gross prot (loss) to be recognized in each of the three years. (Do not round intermediate ne'erences calculations. Loss amounts should be indicated with a minus sign.) Revenue Gross prot (loss) m (En-iv 4567 of7 Next >