Annual report pursuant to Section 13 and 15(d)

Contracts in Progress (Tables)

v3.24.1
Contracts in Progress (Tables)
12 Months Ended
Dec. 31, 2023
Contracts in Progress [Abstract]  
Billings in Excess of Costs and Estimated Earnings and Costs and Estimated Earnings in Excess of Billings Billings in excess of costs and estimated earnings as of December 31, 2023 and 2022 are as follows:

Year Ended December 31

2023

2022

Billings to date

$

2,131,579

$

4,208,409

Costs incurred on uncompleted contracts

1,208,444

1,122,453

Estimated earnings

483,046

380,547

Cost plus estimated earnings

1,691,490

1,503,000

Billings in excess of costs plus estimated earnings on uncompleted contracts

$

440,089

$

2,705,409

Costs and estimated earnings in excess of billings as of December 31, 2023 and 2022 are as follows:

Year Ended December 31

2023

2022

Costs incurred on uncompleted contracts

$

119,782

$

931,801

Estimated earnings

396,174

513,648

515,956

1,445,449

Billings to date

458,715

667,964

Costs and estimated earnings in excess of billings on uncompleted contracts

$

57,241

$

777,485