I have this last problem that Im stuck on. If someone could help with this and provide how you came to the answer so I can study it, that would be very helpful.

Required information The following information applies to the questions displayed below) In 2018, 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 2020. Information related to the contr Cost incurred during the year Estimated costs to complete as of year-end, 184,0002,376,000 Billings during the year Cash collections during the year 2018 $2,016,000 $2,808,000$2,613,600 2,180,000 2,644,000 5,176,000 1,890,000 2,500,0005.610,000 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.) $2,016,000 $3,890,000$4,170,000 4,280,000 Cost incurred during the year Estimated costs to complete as of year-end 5,184,000 3 Answer is complete but not entirely correct 2019 2018 $ 2,800,000$2.998,154 s 4,201,846 Gross profit (loss) $ 784.000(891.846) 31.846 Revenue Next 7 of 7 K Prev