Note 4 - Contracts in Progress

12 Months Ended

Nov. 30, 2021

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, 2021
Costs	$	362,958		$	924,908
Estimated earnings		117,328			301,180
		480,286			1,226,088
Less: amounts billed		(303,002	)		(1,506,849	)
	$	177,284		$	(280,761	)
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	)

The amounts billed on long-term contracts are due 30 days from invoice date. All amounts billed are expected to be collected within the next 12 months. Retainage included in accounts receivable was $0 and $36,488 as of November 30, 2021 and 2020, respectively.