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CONDENSED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash $ 283,240 $ 1,430,877
Accounts receivable, net of allowance for doubtful accounts of $150,000 as of March 31, 2018 and December 31, 2017 3,984,414 5,379,821
Contract assets 114,023,576 111,158,551
Prepaid expenses and other current assets 2,363,604 2,413,187
Total current assets 120,654,834 120,382,436
Property and equipment, net 2,049,651 2,046,942
Deferred income taxes, net 1,161,818 1,566,818
Other assets 172,259 188,303
Total Assets 124,038,562 124,184,499
Current Liabilities:    
Accounts payable 11,810,149 15,129,872
Accrued expenses 1,983,368 1,911,421
Contract liabilities 281,528 246,330 [1]
Current portion of long-term debt 2,135,641 2,009,000
Line of credit 24,838,685 22,838,685
Income tax payable   109,327
Total current liabilities 41,049,371 42,244,635
Long-term debt, net of current portion 6,479,867 7,019,468
Other liabilities 595,173 607,063
Total Liabilities 48,124,411 49,871,166
Shareholders' Equity:    
Common stock - $.001 par value; authorized 50,000,000 shares, 8,923,845 and 8,864,319 shares, respectively, issued and outstanding 8,919 8,863
Additional paid-in capital 54,120,415 53,770,618
Retained earnings 21,805,417 20,548,652
Accumulated other comprehensive loss (20,600) (14,800)
Total Shareholders' Equity 75,914,151 74,313,333
Total Liabilities and Shareholders' Equity $ 124,038,562 $ 124,184,499
[1] On January 1, 2018, as a result of the adoption of ASC 606, the Company reclassified costs and estimated earnings in excess of billings on uncompleted contracts to contract assets and billings in excess of costs and estimated earnings on uncompleted contracts to contract liabilities.