v3.25.1
Contract Assets and Contract Liabilities (Tables)
3 Months Ended
Mar. 31, 2025
Contract Assets and Contract Liabilities [Abstract]  
Schedule of Contract Assets and Contract Liabilities

Costs and estimated earnings on uncompleted contracts, which represent contract assets and contract liabilities, consisted of the following at March 31, 2025 and December 31, 2024:

 

   2025   2024 
Costs incurred on uncompleted contracts  $845,467   $3,161,295 
Provision for loss on uncompleted contracts   
    
 
Estimated earnings to date on uncompleted contracts   (189,825)   (687,903)
Gross contract assets   655,642    2,473,392 
Less: billings to date   (824,505)   (3,066,938)
Net contract liabilities on uncompleted contracts  $(168,863)  $(593,546)
Schedule of Condensed Consolidated Balance Sheets

The above amounts are included in the accompanying condensed consolidated balance sheets under the following captions at March 31, 2025 and December 31, 2024. 

 

   2025   2024 
Contract assets  $
   $2,536 
Contract liabilities   (168,863)   (596,082)
Net contract liabilities on uncompleted contracts  $(168,863)  $(593,546)