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Contract Assets and Contract Liabilities (Tables)
6 Months Ended
Jun. 30, 2019
Contract Assets and Contract Liabilities [Abstract]  
Schedule of costs and estimated earnings on uncompleted contracts

 

 

 

June 30, 

2019

 

 

December 31,

2018

 

 

Costs incurred on uncompleted contracts

 

$

11,636,297

 

 

$

11,307,975

 

 

Estimated earnings to date on uncompleted contracts

 

 

1,299,731

 

 

 

838,615

 

 

Gross contract assets

 

 

12,936,028

 

 

 

12,146,590

 

 

Less: billings to date

 

 

(13,099,656

)

 

 

(13,221,152

)

 

    Net contract assets (liabilities)

 

$

(163,628

)

 

$

(1,074,562

)

Schedule of costs included in condensed consolidated balance sheets

   



June 30, 

2019



December 31,

2018

 

 

Costs and estimated earnings in excess of billings on uncompleted contracts

 

$

20,801

 

 

$

260,325

 

 

Billings in excess of costs and estimated earnings on uncompleted contracts

 

 

(184,429

)

 

 

(1,334,887

)

 

    Net contract assets (liabilities)

 

$

(163,628

)

 

$

(1,074,562

)