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

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Accounting

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Required informotion [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: Westgate recognizes revenue over time according to percentage of completion. 4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs ncurred and costs to complete information. (Do not round intermediate colculations and round your final onswers to the nearest whole dollor omount. Loss omounts should be indicated with o minus sign.) 4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming incurred and costs to complete information. (Do not round intermediate calculations and round your final answ whole dollar amount. Loss amounts should be indicated with a minus sign.)

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