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NOTE 4 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS (Tables)
12 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Costs and Estimated Earnings on Uncompleted Contracts

Information relating to uncompleted contracts as of June 30, 2016 and 2015 is as follows:

 

  As of June 30,
   2016  2015
Costs incurred on uncompleted contracts  $893,976   $1,861,350 
Estimated earnings   491,476    1,371,093 
    1,385,452    3,232,443 
Less: Billings to date   1,592,075    2,693,000 
   $(206,623)  $539,443 

 

Costs and Estimated Earnings

Included in the accompanying consolidated balance sheets under the following captions:

 

   As of June 30,
   2016  2015
Costs and estimated earnings in excess of billings on uncompleted contracts  $—     $681,660 
Less:  Billings in excess of costs and estimated earnings on uncompleted contracts   206,623    142,217 
   $(206,623)  $539,443