Costs and Estimated Earnings on Uncompleted Contracts

3 Months Ended

Mar. 31, 2017

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:

	March 31,		December 31,
	2017		2016
Costs incurred on uncompleted contracts	$	4,278,858	$	5,391,124
Gross profit recognized		320,700		456,871
		4,599,558		5,847,995
Less: billings to date		(4,620,715)		(5,821,983)
	$	(21,157)	$	26,012

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

	March 31,		December 31,
	2017		2016
Costs and estimated earnings in excess of billings	$	129,614	$	138,618
Billings in excess of cost and estimated earnings		(150,771)		(112,606)
	$	(21,157)	$	26,012