Note 4 - Contracts in Progress

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Long-term Contracts or Programs Disclosure [Text Block]

NOTE 4: CONTRACTS IN PROGRESS

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

	June 30, 2017			December 31, 2016
Costs incurred on contracts in progress	$	7,417,135		$	4,678,192
Estimated earnings		16,467,264			10,733,826
		23,884,399			15,412,018
Billings to date		(23,841,934	)		(18,077,839	)
	$	42,465		$	(2,665,821	)
Included in accompanying balance sheets under the following captions:
Costs and estimated earnings in excess of billings on contracts in progress	$	3,027,086		$	2,596,518
Billings in excess of costs and estimated earnings on contracts in progress	$	(2,984,621	)	$	(5,262,339	)
	$	42,465		$	(2,665,821	)