CONTRACT ASSETS AND LIABILITIES

6 Months Ended

Jun. 30, 2025

NOTE 6

CONTRACT ASSETS AND LIABILITIES

Costs and estimated earnings compared to billings on uncompleted contracts as of June 30, 2025 and December 31, 2024 consisted of the following:

Costs and estimated earnings in excess of billings on uncompleted contracts:


	June 30, 2025			December 31, 2024
Contract costs incurred plus estimated earnings	$	4,323,927		$	4,323,927
Less: Progress billings		(4,130,523	)		(4,130,523	)
Contract assets	$	193,404		$	193,404

Billings in excess of costs and estimated earnings on uncompleted contracts:

Schedule of billings in excess of costs
	June 30, 2025			December 31, 2024
Contract costs incurred plus estimated earnings	$	550,034		$	273,505
Less: Progress billings		(705,128	)		(423,076	)
Contract liabilities	$	(155,094	)	$	(149,571	)