COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS (Tables)

12 Months Ended

Apr. 30, 2013

Costs and Estimated Earnings On Uncompleted Contracts

Schedule of Costs and Estimated Earnings on Uncompleted Contracts

Costs and estimated earnings in excess of billings on uncompleted contracts”, represents revenue recognized in excess of amounts billed. The liability, “Billings in excess of costs and estimated earnings on uncompleted contracts”, represents billings in excess of revenue recognized. Costs and estimated earnings on uncompleted contracts consist of the following at April 30:

	April 30, 2013		April 30, 2012
Costs incurred on uncompleted contracts	$	74,554,932	$	76,682,610
Provision for loss on uncompleted contracts		(23,376)		(1,886,896)
Estimated contract profit		2,730,745		2,242,232
		77,262,301		77,037,946
Less: billings to date		77,755,947		79,291,760
Total	$	(493,646)	$	(2,253,814)
Costs and estimated earnings in excess of billings on uncompleted     contracts	$	1,148,855	$	1,340,379
Billings in excess of costs and estimated earnings on uncompleted     contracts		(1,642,501)		(3,594,193)
Total	$	(493,646)	$	(2,253,814)