Please explain in details using ( completed contract method)

Problem 5-11 Long-term contract; revenue recognition upon completion [LO5-9] In 2016, 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 2018. Information related to the contract is as follows 2017 $1,976,000 $3,420,000 $2,424,400 2016 2018 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year 5.624,000 3,796,000 4,604,000 ,440,000 3,200,000 5,400,000 2.204000 Cash collections during the year Westgate Construction uses the completed contract method of accounting for long-term construction contracts Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years (Loss amounts should be indicated with a minus sign.) 2016 2017 2018 Revenue Gross profit (loss) $ 760,000