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COSTS, BILLINGS, AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS
 12 Months Ended
Dec. 31, 2014
COSTS, BILLINGS, AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS  
COSTS, BILLINGS, AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

NOTE C — COSTS, BILLINGS, AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

 

The components of uncompleted contracts are as follows at December 31:

 

 

 

2014

 

2013

 

Costs incurred on uncompleted contracts and estimated earnings

 

$
2,326,653

 

$
2,476,716

 

Less billings to date

 
(4,737,861

)
(816,989

)

 

 

$
(2,411,208

)

$
1,659,727

 

 

The components of uncompleted contracts are reflected in the consolidated balance sheets as follows at December 31:

 

 

 

2014

 

2013

 

Costs and estimated earnings in excess of billings on uncompleted contracts

 

$
2,039,894

 

$
2,312,947

 

Billings in excess of costs and estimated earnings on uncompleted contracts

 
(4,451,102

)
(653,220

)

 

 

$
(2,411,208

)

$
1,659,727