September 30, 2013

December 31, 2012

Costs incurred on uncompleted contracts

$

9,956,023

$

10,733,663

Estimated earnings

8,840,084

9,465,412

18,796,107

20,199,075

Billings to date

(16,477,762

)

(17,944,876

)

$

2,318,345

$

2,254,199

Included in accompanying balance sheets under the following captions:

Costs and estimated earnings in excess of billings on uncompleted contracts

$

2,323,682

$

2,730,104

Billings in excess of costs and estimated earnings on uncompleted contracts

$

(5,337)

$

(475,905)