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Costs and Estimated Earnings on Uncompleted Contracts
 6 Months Ended
Jun. 30, 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:

 

 

 

 

 

 

 

 

 

 

June 30, 

 

December 31, 

 

 

2017

 

2016

Costs incurred on uncompleted contracts

 

$

4,900,812

 

$

5,391,124

Gross profit recognized

 

 

390,252

 

 

456,871

 

 

 

5,291,064

 

 

5,847,995

Less: billings to date

 

 

(5,291,021)

 

 

(5,821,983)

 

 

$

43

 

$

26,012

 

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

 

 

 

 

 

 

 

 

 

 

June 30, 

 

December 31, 

 

 

2017

 

2016

Costs and estimated earnings in excess of billings

 

$

158,741

 

$

138,618

Billings in excess of cost and estimated earnings

 

 

(158,698)

 

 

(112,606)

 

 

$

43

 

$

26,012