Costs and Estimated Earnings on Uncompleted Contracts

6 Months Ended

Jun. 30, 2018

Costs and Estimated Earnings on Uncompleted Contracts [Abstract]

Costs and Estimated Earnings on Uncompleted Contracts

5. Costs and Estimated Earnings on Uncompleted Contracts

Costs and estimated earnings on uncompleted contracts consisted of the following at June 30, 2018 and December 31, 2017:

	June 30, 2018			December 31, 2017
Costs incurred on uncompleted contracts	$	7,267,669		$	3,681,965
Estimated earnings to date on uncompleted contracts		494,749			328,273
Gross contract assets (liabilities)		7,762,418			4,010,238
Less: billings to date		(8,456,494	)		(5,622,111	)
Net contract assets (liabilities)	$	(694,076	)	$	(1,611,873	)

The above amounts are included in the accompanying condensed consolidated balance sheets under the following captions at June 30, 2018 and December 31, 2017.

	June 30, 2018			December 31, 2017
Costs and estimated earnings in excess of billings on uncompleted contracts	$	131,392		$	61,175
Billings in excess of cost and estimated earnings on uncompleted contracts		(825,468	)		(1,673,048	)
Net contract assets (liabilities)	$	(694,076	)	$	(1,611,873	)