Quarterly report pursuant to Section 13 or 15(d)

UNCOMPLETED CONTRACTS

v3.23.1
UNCOMPLETED CONTRACTS
 3 Months Ended
Mar. 31, 2023
Contractors [Abstract]  
UNCOMPLETED CONTRACTS

NOTE 8 – UNCOMPLETED CONTRACTS

 

Costs, estimated earnings and billings on uncompleted contracts are as follows:

 

    March 31,     December 31,  
    2023     2022  
    (unaudited)     *  
Revenue recognized   $ 353,300     $ 440,200  
Less: billings to date     (197,400 )     (301,500 )
Contract assets     155,900       138,700  
Billings to date     2,575,100       2,849,400  
Revenue recognized     (2,128,900 )     (2,313,400 )
Contract liabilities   $ 446,200     $ 536,000