View previous at 8 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: Part 5 of 5 Cont incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 2022 2020 52,490,000 $3,984,000 $2,008,600 5,810,000 1,826,000 0 2,030,000 4,444,000 3,526,000 1,815,000 3,900,000 4,285,000 2 points Westgate recognizes revenue over time according to percentage of completion 5. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount Loss amounts should be indicated with a minus sign.) 2021 2022 2023 Conte Nourred during the year $2,490,000 03.015.000 93,945,000 Hatimated contato complete all of year-end 5,010,000 4,130,000 0 2022 2023 5 Reverso Gross profitos) 2021 3,000,000 510.000 Mc nen