Quarterly report pursuant to Section 13 or 15(d)

Contracts in Progress

v3.24.2.u1
Contracts in Progress
6 Months Ended
Jun. 30, 2024
Contracts in Progress [Abstract]  
Contracts in Progress NOTE 4 – CONTRACTS IN PROGRESS

Billings in excess of costs and estimated earnings as of June 30, 2024 and December 31, 2023 are as follows:

June 30, 2024

December 31, 2023

Billings to date

$

2,106,313

$

2,131,579

Costs incurred on uncompleted contracts

414,228

1,208,444

Estimated earnings

278,535

483,046

Cost plus estimated earnings

692,763

1,691,490

Billings in excess of costs plus estimated earnings on uncompleted contracts

$

1,413,550

$

440,089

Costs and estimated earnings in excess of billings as of June 30, 2024 and December 31, 2023 are as follows:

June 30, 2024

December 31, 2023

Costs incurred on uncompleted contracts

$

16,018

$

119,782

Estimated earnings

12,061

396,174

Total costs and estimated earnings

28,079

515,956

Billings to date

23,464

458,715

Costs and estimated earnings in excess of billings on uncompleted contracts

$

4,615

$

57,241