Annual report pursuant to Section 13 and 15(d)

Contracts in Progress

v3.23.1
Contracts in Progress
 12 Months Ended
Dec. 31, 2022
Contracts in Progress [Abstract]  
Contracts in Progress NOTE 5 – CONTRACTS IN PROGRESS

Billings in excess of costs and estimated earnings as of December 31, 2022 and 2021 are as follows:

Year Ended December 31

2022

2021

Billings to date

$

4,208,409

$

—

Costs incurred on uncompleted contracts

1,122,453

—

Estimated earnings

380,547

—

Cost plus estimated earnings

1,503,000

—

Billings in excess of costs plus estimated earnings on uncompleted contracts

$

2,705,409

$

—

Costs and estimated earnings in excess of billings as of December 31, 2022 and 2021 are as follows:

Year Ended December 31

2022

2021

Costs incurred on uncompleted contracts

$

931,801

$

—

Estimated earnings

513,648

—

1,445,449

—

Billings to date

667,964

—

Costs and estimated earnings in excess of billings on uncompleted contracts

$

777,485

$

—