XML 47 R35.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Contract Assets and Contract Liabilities (Tables)
12 Months Ended
Dec. 31, 2023
Contract Assets and Contract Liabilities  
Summary of costs and estimated earnings on uncompleted contracts


 

 

2023

 

 

2022

 



2021

 

Costs incurred on uncompleted contracts 

 

$

20,213,733

 

 

$

13,730,177

 


$ 4,272,425

Provision for loss on uncompleted contracts







2,238,578


Estimated earnings (losses) to date on uncompleted contracts

 

 

(968,040

)

 

 

(2,160,085

)

(3,156,377 )


Gross contract assets

 

 

19,245,693

 

 

 

11,570,092

 



3,354,626


Less: billings to date

 

 

(20,601,946

)

 

 

(11,970,979

)



(4,750,289 )


Net contract liabilities on uncompleted contracts

 

$

(1,356,253

)

 

$

(400,887

)


$ (1,395,663 )
Summary of costs included in condensed consolidated balance sheets


 

 

2023

 

 

2022

 



2021

 

Contract assets

 

$

10,745

 

 

$

36,384

 


$ 41,916


Contract liabilities

 

 

(1,366,998

)

 

 

(437,271

)

(1,437,579 )


Net contract liabilities

 

$

(1,356,253

)

 

$

(400,887

)
$ (1,395,663 )