Note 3 - Contracts in Progress

12 Months Ended

Dec. 31, 2015

Notes to Financial Statements

Long-term Contracts or Programs Disclosure [Text Block]

Note

3

–

Contracts in Progress

Costs and estimated earnings in excess of billings on percentage of completion type contracts in progress are summarized as follows:

	2015			2014
Costs incurred on contracts in progress	$	7,695,281		$	4,250,299
Estimated earnings		7,635,114			4,541,377
		15,330,395			8,791,677
Billings to date		(10,695,377	)		(7,621,523	)
	$	4,635,018		$	1,170,154

	2015		20 14
Included in accompanying balance sheets
Under the following captions:
Costs and estimated earnings in excess of billings on contracts in progress	$	4,635,018	$	2,498,662
Billings in excess of costs and estimated earnings on contracts in progress	$	---	$	(1,328,508	)