Quarterly report pursuant to Section 13 or 15(d)

Contracts in Progress (Tables)

v3.23.2
Contracts in Progress (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2023 and December 31, 2022 are as follows:

June 30, 2023

December 31, 2022

Billings to date

$

3,795,625

$

4,208,409

Costs incurred on uncompleted contracts

1,178,919

1,122,453

Estimated earnings

926,091

380,547

Cost plus estimated earnings

2,105,010

1,503,000

Billings in excess of costs plus estimated earnings on uncompleted contracts

$

1,690,615

$

2,705,409

Costs and estimated earnings in excess of billings as of June 30, 2023 and December 31, 2022 are as follows:

June 30, 2023

December 31, 2022

Costs incurred on uncompleted contracts

$

2,289,239

$

931,801

Estimated earnings

1,526,260

513,648

3,815,499

1,445,449

Billings to date

3,273,525

667,964

Costs and estimated earnings in excess of billings on uncompleted contracts

$

541,974

$

777,485