2013 | 2012 | ||||||
Costs incurred on uncompleted contracts | $ | 31,133,132 | $ | 29,193,963 | |||
Estimated earnings | 9,372,782 | 14,555,825 | |||||
40,505,914 | 43,749,788 | ||||||
Less billings to date | 35,570,006 | 36,712,296 | |||||
Total | $ | 4,935,908 | $ | 7,037,492 | |||
Included in the balance sheets under the following captions | |||||||
Costs and estimated earnings in excess of billings on uncompleted contracts | $ | 4,991,754 | $ | 7,411,544 | |||
Billings in excess of costs and estimated earnings on uncompleted contracts | (55,846 | ) | (374,052 | ) | |||
Total | $ | 4,935,908 | $ | 7,037,492 | |||