Costs and Estimated Earnings on Uncompleted Contracts

6 Months Ended

Jun. 30, 2016

Costs and Estimated Earnings on Uncompleted Contracts

Costs and Estimated Earnings on Uncompleted Contracts

Note 6—Costs and Estimated Earnings on Uncompleted Contracts

Costs and estimated earnings on uncompleted contracts consist of the following:

	June 30,		December 31,
	2016		2015
Costs incurred on uncompleted contracts	$	4,345,624	$	5,413,224
Gross profit recognized		362,515		625,280
		4,708,139		6,038,504
Less: billings to date		(4,696,824)		(6,061,924)
	$	11,315	$	(23,420)

This amount is included in the accompanying consolidated balance sheets under the following captions:

	June 30,		December 31,
	2016		2015
Costs and estimated earnings in excess of billings	$	133,606	$	116,455
Billings in excess of cost and estimated earnings		(122,291)		(139,875)
	$	11,315	$	(23,420)