NOTE 4 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS AND CUSTOMER ADVANCES

12 Months Ended

Jun. 30, 2014

Notes to Financial Statements

NOTE 4 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS AND CUSTOMER ADVANCES

NOTE 4 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS AND CUSTOMER ADVANCES

Information relating to uncompleted contracts as of June 30, 2014 and 2013 is as follows:

	As of June 30,
	2014		2013
Costs incurred on uncompleted contracts	$	1,884,984	$	1,482,384
Estimated earnings		1,745,608		1,191,141
		3,630,592		2,673,525
Less: Billings to date		3,013,000		2,370,000
	$	617,592	$	303,525

Included in the accompanying consolidated balance sheets under the following captions:

	As of June 30,
	2014		2013
Costs and estimated earnings in excess of billings on uncompleted contracts	$	759,809	$	445,742
Less:  Billings in excess of costs and estimated earnings on uncompleted contracts		142,217		142,217
	$	617,592	$	303,525