Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts and Billings in Excess of Costs and Estimated Earnings on Uncompleted Contracts

9 Months Ended

Dec. 31, 2016

Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts and Billings in Excess of Costs and Estimated Earnings on Uncompleted Contracts [Abstract]

Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts and Billings in Excess of Costs and Estimated Earnings on Uncompleted Contracts

(3)  Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts and Billings in Excess of Costs and Estimated Earnings on Uncompleted Contracts

At December 31, 2016 and March 31, 2016, the estimated period to complete contracts in process ranged from one to six months and one to thirteen months, respectively. We expect to collect all accounts receivable arising from these contracts within sixty days of billing.

The following summarizes contracts in process:

	December 31,		March 31,
	2016		2016
Costs incurred on uncompleted contracts	$	502,701	$	2,607,764
Estimated earnings		331,969		717,771
		834,670		3,325,535
Less billings to date		(804,753)		(3,265,239)
Contracts in process	$	29,917	$	60,296
Included in the accompanying Consolidated Condensed Balance Sheets as follows:
Costs and estimated earnings in excess of billings on uncompleted contracts	$	29,917	$	60,296
Contracts in process	$	29,917	$	60,296