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Contract Assets and Contract Liabilities (Tables)
12 Months Ended
Dec. 31, 2019
Contract Assets and Contract Liabilities [Abstract]  
Summary of costs and estimated earnings on uncompleted contracts

 

 

 

2019

 

 

2018

 

 

Costs incurred on uncompleted contracts

 

$

513,558

 

 

$

11,307,975

 

 

Estimated earnings to date on uncompleted contracts

 

 

127,032

 

 

 

838,615

 

 

Gross contract assets

 

 

640,590

 

 

 

12,146,590

 

 

Less: billings to date

 

 

(703,532

)

 

 

(13,221,152

)

 

    Net contract assets (liabilities)

 

$

(62,942

)

 

$

(1,074,562

)

Summary of costs included in condensed consolidated balance sheets

   

 

 

2019

 

 

2018

 

 

Contract assets

 

$

106,015

 

 

$

260,325

 

 

Contract liabilities

 

 

(168,957

)

 

 

(1,334,887

)

 

    Net contract assets (liabilities)

 

$

(62,942

)

 

$

(1,074,562

)