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COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS | 6 Months Ended
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Jul. 31, 2016
COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS |
COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS | NOTE 7 — COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS The table below sets forth the aggregate amounts of costs charged to and earnings accrued on uncompleted contracts compared with the billings on those contracts through July 31 and January 31, 2016.
|  | July 31, |  | January 31, |
|  | 2016 |  | 2016 |
Costs charged to uncompleted contracts |  | $ | 888,854 |  | $ | 764,071 |
Estimated accrued earnings |  | 175,760 |  | 116,326 |
|  | 1,064,614 |  | 880,397 |
Less - billings to date |  | 1,182,692 |  | 982,182 |
|  | $ | (118,078 | ) | $ | (101,785 | )
Amounts above are included in the accompanying condensed consolidated balance sheets under the following captions:
|  | July 31, |  | January 31, |
|  | 2016 |  | 2016 |
Costs and estimated earnings in excess of billings |  | $ | 3,052 |  | $ | 4,078 |
Billings in excess of costs and estimated earnings |  | 121,130 |  | 105,863 |
|  | $ | (118,078 | ) | $ | (101,785 | )
Contract costs charged as of July 31, 2016 included amounts billed to the Company for delivered goods and services totaling $10.9 million where payments have been retained; retained amounts were included in the Company’s accounts payable as of July 31, 2016. Such amounts are expected to be paid prior to the completion of the applicable project.

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