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Costs and Estimated Earnings on Uncompleted Contracts (Tables)
12 Months Ended
Dec. 31, 2012
Costs and Estimated Earnings on Uncompleted Contracts  
Schedule of costs and estimated earnings on uncompleted contracts

 

 

 

 

2012

 

2011

 

Costs incurred on uncompleted contracts

 

$

3,882,968

 

$

2,977,535

 

Accrued loss provision for estimated losses on uncompleted contracts

 

764

 

917

 

Gross profit recognized

 

448,928

 

303,634

 

 

 

4,332,660

 

3,282,086

 

Less: billings to date

 

(4,449,851

)

(3,377,949

)

 

 

$

(117,191

)

$

(95,863

)

Schedule of costs and estimated earnings on uncompleted contracts included in consolidated balance sheet

 

 

 

 

2012

 

2011

 

Costs and estimated earnings in excess of billings

 

$

41,701

 

$

41,866

 

Billings in excess of cost and estimated earnings

 

(158,892

)

(137,729

)

 

 

$

(117,191

)

$

(95,863

)