4. Costs and Estimated Earnings on Uncompleted Contracts

12 Months Ended

May 31, 2026

4. Costs and Estimated Earnings on Uncompleted Contracts:

4. Costs and Estimated Earnings on Uncompleted Contracts:

	2026		2025
Costs incurred on uncompleted contracts	`$9,111,805`		`$12,499,313`
Estimated earnings	`11,539,013`		`13,175,240`
	`20,650,818`		`25,674,553`
Less billings to date	`13,985,655`		`24,696,121`
	`$6,665,163`		$ 978,432

Amounts are included in the accompanying balance sheets under the following captions:

	2026		2025
Costs and estimated earnings in excess of billings	`$8,032,246`		`$5,360,499`
Billings in excess of costs and estimated earnings	`1,367,083`		`4,382,067`
	`$6,665,163`		`$978,432`

The following summarizes the status of long-term projects in progress as of May 31, 2026 and 2025:

	2026	2025
Number of projects in progress	19	21
Aggregate percent complete	62%	65%
Aggregate amount remaining	$10,116,421	$13,100,204
Percentage of total value invoiced to customer	45%	64%

The Company expects to recognize the majority of remaining revenue on all open projects during the May 31, 2027 fiscal year.

Revenue recognized during the years ended May 31, 2026 and 2025 for amounts included in billings in excess of costs and estimated earnings as of the beginning of the year amounted to $4,206,000 and $5,601,000.