v3.26.1
CONTRACT LIABILITIES
6 Months Ended
Jun. 30, 2026
Contract Liabilities  
CONTRACT LIABILITIES

 

NOTE 5 CONTRACT LIABILITIES

 

Costs and estimated earnings compared to billings on uncompleted contracts as of June 30, 2026 and December 31, 2025 consisted of the following:

 

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

      
   June 30, 2026  December 31, 2025
Contract costs incurred plus estimated earnings  $1,471,770   $1,106,982 
Less: Progress billings   (1,549,315)   (1,294,082)
Contract liabilities  $(77,545)  $(187,100)