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Costs and Estimated Earnings on Uncompleted Contracts | 9 Months Ended
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Sep. 30, 2018
Costs and Estimated Earnings on Uncompleted Contracts [Abstract] |
Costs and Estimated Earnings on Uncompleted Contracts |
4. | Costs and Estimated Earnings on Uncompleted Contracts
Costs and estimated earnings on uncompleted contracts consisted of the following at September 30, 2018 and December 31, 2017:
|  | September 30, 2018 |  |  | December 31, 2017 |
Costs incurred on uncompleted contracts |  | $ | 9,183,162 |  |  | $ | 3,681,965 |
Estimated earnings to date on uncompleted contracts |  |  | 719,589 |  |  |  | 328,273 |
Gross contract assets |  |  | 9,902,751 |  |  |  | 4,010,238 |
Less: billings to date |  |  | (11,876,802 | ) |  |  | (5,622,111 | )
Net contract assets (liabilities) |  | $ | (1,974,051 | ) |  | $ | (1,611,873 | )
The above amounts are included in the accompanying condensed consolidated balance sheets under the following captions at September 30, 2018 and December 31, 2017.
|  | September 30, 2018 |  |  | December 31, 2017 |
Costs and estimated earnings in excess of billings on uncompleted contracts |  | $ | 107,689 |  |  | $ | 61,175 |
Billings in excess of costs and estimated earnings on uncompleted contracts |  |  | (2,081,740 | ) |  |  | (1,673,048 | )
Net contract assets (liabilities) |  | $ | (1,974,051 | ) |  | $ | (1,611,873 | )

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