NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

6 Months Ended

Dec. 31, 2017

Notes to Financial Statements

NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

FONAR CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2017 and 2016

(Amounts and shares in thousands, except per share amounts)

(UNAUDITED)

NOTE 5 – COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

Information relating to uncompleted contracts is as follows:

	December 31, 2017		June 30, 2017
Costs incurred on uncompleted contracts	$	1,031	$	1,031
Estimated earnings		999		999
Subtotal		2,030		2,030
Less: Billings to date		1,294		1,294
Total Costs and estimated earnings in excess of billings on uncompleted contracts	$	736	$	736

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

	December 31, 2017		June 30, 2017
Costs and estimated earnings in excess of billings on uncompleted contracts	$	736	$	736
Less: Billings in excess of costs and estimated earnings on uncompleted contracts		—		—
Total Costs and estimated earnings in excess of billings on uncompleted contracts	$	736	$	736