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Sub Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 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: 2021 2022 2823 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year $2,291,000 5,609,000 2,110,000 1,855,000 $3,555,eee 2,054,00e 3,736,000 3,500,e00 $2,259,400 art 4 of 5 4,154,eee 4,645,eee Westgate recognizes revenue over time according to percentage of completion. pints 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.) 2821 2822 2023 $3,255,e0e $2,291,0ee 5,609,000 $3,855,000 3,155,000 Costs incurred during the year Estimated costs to comnplete as of year-end Answer is complete but not entirely correct. 2022 2023 2021 3,710,000 x S 3,390,000 i 2,900,000 S Revenue 135.000a Gross nrofit (Inssi 609 145 00 Mc Graw Next >