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Costs and Estimated Earnings on Uncompleted Contracts
 6 Months Ended
Jun. 30, 2014
Costs and Estimated Earnings on Uncompleted Contracts  
Costs and Estimated Earnings on Uncompleted Contracts

Note 6—Costs and Estimated Earnings on Uncompleted Contracts

 

Costs and estimated earnings on uncompleted contracts consist of the following:

 

 

 

June 30,
2014

 

December 31,
2013

 

 

 

 

 

 

 

Costs incurred on uncompleted contracts

 

$

4,184,551

 

$

4,741,249

 

Gross profit recognized

 

492,755

 

582,430

 

 

 

4,677,306

 

5,323,679

 

Less: billings to date

 

(4,747,292

)

(5,439,898

)

 

 

$

(69,986

)

$

(116,219

)

 

This amount is included in the accompanying consolidated balance sheets under the following captions:

 

 

 

June 30,
2014

 

December 31,
2013

 

 

 

 

 

 

 

Costs and estimated earnings in excess of billings

 

$

88,111

 

$

57,146

 

Billings in excess of costs and estimated earnings

 

(158,097

)

(173,365

)

 

 

$

(69,986

)

$

(116,219

)