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COSTS AND ESTIMATED EARNINGS ON CONTRACTS IN PROGRESS (Tables)
 9 Months Ended
Sep. 30, 2020
COSTS AND ESTIMATED EARNINGS ON CONTRACTS IN PROGRESS  
Schedule of estimated earnings on contracts in progress

Costs and estimated earnings on contracts in progress, net of progress billings, are as follows as of September 30, 2020 and December 31, 2019:

 

 

 

 

 

 

 

 

Costs incurred on contracts in progress

    

$

498,190

    

$

240,732

Estimated net earnings thereon

 

 

541,728

 

 

42,403

Total costs and estimated earnings

 

 

1,039,918

 

 

283,135

 

 

 

 

 

 

 

Billings to date

 

 

(1,407,925)

 

 

(1,127,466)

Net overbilled

 

$

(368,007)

 

$

(844,331)

 

 

 

 

 

 

 

Contract Assets

 

$

 —

 

$

 —

Contract Liabilities (Deferred Revenue)

 

 

(368,007)

 

 

(844,331)

 

 

$

(368,007)

 

$

(844,331)