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Required Information [The following information applies to the questions displayed below.] In 2021, the Westgate...

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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: 2023 $2,613,600 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 $2,016,000 5,184,280 2,180, eee 1,899, ese 2022 $2,808,000 2,376,080 2,644, ese 2,500,000 5, 176, eee 5,610,000 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 slgn.) 2021 2022 2023 Revenue Gross profit (loss)

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