Contracts In Progress

12 Months Ended

Dec. 31, 2011

6. CONTRACTS IN PROGRESS

A summary of contracts in progress at December 31 is as follows:


		2011			2010
Costs incurred to date	$	4,158,690		$	2,570,022
Estimated earnings		1,957,728			971,684
Revenue recognized to date		6,116,418			3,541,706
Billings to date		(5,678,483	)		(3,098,788	)
	$	437,935		$	442,919
Included in the accompanying balance sheets:
Costs in excess of billings on uncompleted contracts
(unbilled receivables)	$	638,950		$	804,618
Billings in excess of costs on uncompleted contracts		(201,015	)		(361,699	)
	$	437,935		$	442,919