v3.26.1
CONTRACT LIABILITIES
3 Months Ended
Mar. 31, 2026
Contract Liabilities  
CONTRACT LIABILITIES

 

NOTE 5 CONTRACT LIABILITIES

 

Costs and estimated earnings compared to billings on uncompleted contracts as of March 31, 2026 and December 31, 2025 consisted of the following:

 

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

      
   March 31, 2026  December 31, 2025
Contract costs incurred plus estimated earnings  $1,251,319   $1,106,982 
Less: Progress billings   (1,358,185)   (1,294,082)
Contract liabilities  $(106,866)  $(187,100)