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Contract Assets and Contract Liabilities (Tables)
12 Months Ended
Dec. 31, 2021
Contract Assets and Contract Liabilities [Abstract]  
Summary of costs and estimated earnings on uncompleted contracts


 

 

2021

 

 

2020

 

 

Costs incurred on uncompleted contracts 

 

$

4,272,425

 

 

$

4,572,581

 


Provision for loss on uncompleted contracts

2,238,578




Estimated earnings (losses) to date on uncompleted contracts

 

 

(3,156,377

)  

 

 

872,302

 


Gross contract assets

 

 

3,354,626

 

 

 

5,444,883

 


Less: billings to date

 

 

(4,750,289

)

 

 

(5,916,487

)


Net contract liabilities on uncompleted contracts

 

$

(1,395,663

)

 

$

(471,604

)

Summary of costs included in condensed consolidated balance sheets


 

 

2021

 

 

2020

 

 

Contract assets

 

$

41,916

 

 

$

1,303,136

 


Contract liabilities

 

 

(1,437,579

)

 

 

(1,774,740

)


    Net contract liabilities

 

$

(1,395,663

)

 

$

(471,604

)