CONTRACTS IN PROGRESS

6 Months Ended

Jun. 30, 2021

CONTRACTS IN PROGRESS [Abstract]

CONTRACTS IN PROGRESS

5. CONTRACTS IN PROGRESS

Information with respect to contracts in progress are as follows:

	June 30, 2021			December 31, 2020
Expenditures to date on uncompleted contracts	$	4,940,903		$	7,764,622
Estimated earnings thereon		983,100			2,178,868
		5,924,003			9,943,490
Less billings to date		(4,622,245	)		(10,867,354	)
		1,301,758			(923,864	)
Plus under billings remaining on contracts 100% complete		736,301			1,138,341
Total	$	2,038,059		$	214,477

Included in accompany balance sheets under the following captions:

	June 30, 2021			December 31, 2020
Cost and estimated earnings in excess of billings	$	2,611,712		$	1,354,602
Billings in excess of costs and estimated earnings on uncompleted contracts		(573,653	)		(1,140,125	)
Total​	$	2,038,059		$	214,477