Note 4 - Contracts in Progress

12 Months Ended

Nov. 30, 2020

Notes to Financial Statements

Long-term Contracts or Programs Disclosure [Text Block]

( 4 ) Contracts in Progress

Amounts included in the consolidated financial statements related to uncompleted contracts are as follows:

	Cost and Profit in			Billings in Excess of
	Excess of Billings			Costs and Profit
November 30, 2020
Costs	$	511,152		$	9,697,061
Estimated earnings		98,084			579,747
		609,236			10,276,808
Less: amounts billed		(553,210	)		(10,553,034	)
	$	56,026		$	(276,226	)
November 30, 2019
Costs	$	3,805,906		$	629,501
Estimated earnings		1,044,612			155,790
		4,850,518			785,291
Less: amounts billed		(4,123,851	)		(874,222	)
	$	726,667		$	(88,931	)

The amounts billed on these long-term contracts are due

30

days from invoice date. All amounts billed are expected to be collected within the next

12

months. Retainage was

$36,488

and

$0

as of

November 30, 2020

and

2019,

respectively.