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Contract Assets and Contract Liabilities (Tables)
 3 Months Ended
Mar. 31, 2024
Contract Assets and Contract Liabilities [Abstract]  
Summary of costs and estimated earnings on uncompleted contracts


 

 

2024

 

 

2023

 

 

Costs incurred on uncompleted contracts

 

$

9,190,823

 

 

$

20,213,733

 


Provision for loss on uncompleted contracts

—


—

Estimated earnings to date on uncompleted contracts

 

 

(573,865

 )

 

 

(968,040

 )

Gross contract assets

 

 

8,616,958

 

 

 

19,245,693

 


Less: billings to date

 

 

(9,096,909

 )

 

 

(20,601,946

 )

    Net contract assets/(liabilities) on uncompleted contracts

 

$

(479,951

 )

 

$

(1,356,253

 )
Summary of costs included in condensed consolidated balance sheets


 

 

2024

 

 

2023

 

 

Contract assets

 

$

10,745

 

 

$

10,745

 


Contract liabilities

 

 

(490,696

 )

 

 

(1,366,998

 )

 

    Net contract liabilities

 

$

(479,951

 )

 

$

(1,356,253

 )