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[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: Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year 2021 $2,100,000 4,900,000 2,200,000 1,900,000 2022 2023 $2,450,000 $2,695,000 2,450,000 2,350,000 5,450,000 2,300,000 5,800,000 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 sign.) 2021 2022 2023 Revenue Gross profit (loss) 2-a. In the joumal below.complete the necessary Journal entries for the year 2021 (credit Various accounts for construction costs incurred) 2-b. In the journal below.complete the necessary Journal entries for the year 2022 (credit "Various accounts for construction costs incurred). 2-c. In the journal below.complete the necessary journal entries for the year 2023 (credit "Various accounts for construction costs incurred) Complete this question by entering your answers in the tabs below. Req ZA Reg 28 Rea 20 In the journal below, complete the necessary journal entries for the year 2021 (credit "Various accounts for construction costs incurred). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 3. Complete the information required below to prepare a partial balance sheet for 2021 and 2022 showing any items related to the contract (Do not round intermediate calculations.) 2021 2022 Balance Sheet (Partial) Curront assets Current liabilities: 4. 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 Costs incurred during the year $2,100,000 $3,900,000 $3,3ee, eee Estimated costs to complete as of year-end 4,909,800 3,200,000 2021 2022 2023 Revenue Gross profit (loss) 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 $2,100,00 4,900,000 Costs incurred during the year Estimated costs to complete as of year-end 2022 $3,900,eee 4,300,000 2023 $4,200,000 2021 2022 2023 Revenue Gross profit (1058)

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