Quarterly report pursuant to Section 13 or 15(d)

Costs and Estimated Earnings On Uncompleted Contracts

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Costs and Estimated Earnings On Uncompleted Contracts
3 Months Ended
Mar. 31, 2018
Contractors [Abstract]  
Costs and Estimated Earnings On Uncompleted Contracts

NOTE 14. COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

 

Costs and estimated earnings in excess of billings on uncompleted contracts are summarized as follows:

 

    March 31, 2018     December 31, 2017  
Costs incurred on uncompleted contracts   $ 165,964     $ 147,117  
Estimated earnings     38,066       46,277  
      204,030       193,394  
Billings to date     (199,478 )     (212,472 )
    $ 4,552   $ (19,078 )
                 
Included in the accompanying balance sheets:                
Costs and estimated earnings in excess of billings     4,552       11,226  
Billings in excess of costs and estimated earnings     -       (30,304 )
Total   $ 4,552     $ (19,078 )