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Contract Assets and Contract Liabilities (Tables)
3 Months Ended
Mar. 31, 2023
Contract Assets and Contract Liabilities [Abstract]  
Summary of costs and estimated earnings on uncompleted contracts


 

 

2023

 

 

2022

 

 

Costs incurred on uncompleted contracts  

 

$

7,606,868

 

 

$

13,730,177

 


Provision for loss on uncompleted contracts






Estimated earnings to date on uncompleted contracts

 

 

657,694

 

 

(2,160,085

)

Gross contract assets

 

 

8,264,562

 

 

 

11,570,092

 


Less: billings to date

 

 

(7,707,974

)

 

 

(11,970,979

)

    Net contract liabilities on uncompleted contracts

 

$

556,588

 

$

(400,887

)
Summary of costs included in condensed consolidated balance sheets


 

 

2023

 

 

2022

 

 

Contract assets  

 

$

900,717

 

 

$

36,384

 


Contract liabilities

 

 

(344,129

)

 

 

(437,271

)

 

    Net contract liabilities

 

$

556,588

 

$

(400,887

)