June 30, | ||||||||
2013 | 2012 | |||||||
Costs incurred on contracts in progress | $ | 3,463,691 | $ | 3,074,540 | ||||
Estimated contract profit | 559,052 | 643,526 | ||||||
4,022,743 | 3,718,066 | |||||||
Less: billings to date | 3,323,400 | 2,790,988 | ||||||
Contract costs and related estimated profits in excess | ||||||||
of billings | $ | 699,343 | $ | 927,078 |