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Contract Assets and Contract Liabilities (Tables)
 9 Months Ended
Sep. 30, 2021
Contract Assets and Contract Liabilities [Abstract]  
Summary of costs and estimated earnings on uncompleted contracts


 

 

2021

 

 

2020

 

 

Costs incurred on uncompleted contracts 

 

$

8,670,563

 

 

$

4,572,581

 


Provision for loss on uncompleted contracts

1,321,094


—

Estimated earnings (losses) to date on uncompleted contracts

 

 

(3,584,557

 )

 

 

872,302

 


Gross contract assets

 

 

6,407,100

 

 

 

5,444,883

 


Less: billings to date

 

 

(7,098,658

 )

 

 

(5,916,487

)


    Net contract liabilities on uncompleted contracts

 

$

(691,558

 )

 

$

(471,604

)

             
Summary of condensed consolidated balance sheets


 

 

2021

 

 

2020

 

 

Contract assets  

 

$

484,622

 

 

$

1,303,136

 


Contract liabilities

 

 

(1,176,180

 )

 

 

(1,774,740

)

 

    Net contract liabilities

 

$

(691,558

 )

 

$

(471,604

)