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Advanced Roofing, Inc. and Affiliates
<br />Notes to Consolidated Financial Statements
<br />Note 2. Accounts Receivable
<br />Accounts receivable as of December 31, 2015 and 2014, consist of the following:
<br />Service work
<br />Contracts in progress
<br />Retainage
<br />Less allowance for doubtful accounts
<br />2015
<br />2014
<br />$ 1,021,993
<br />$ 968,212
<br />10,336,126
<br />12,077,276
<br />859,013
<br />1,392,263
<br />12,217,132
<br />14,437,751
<br />167,094
<br />230,104
<br />$ 12,050,038
<br />$ 14,207,647
<br />Note 3. Costs, Estimated Earnings and Billings on Uncompleted Contracts
<br />Information regarding uncompleted contracts as of December 31, 2015 and 2014, is as follows:
<br />Total amount of contracts in process
<br />Costs incurred on uncompleted contracts
<br />Estimated earnings
<br />Less billings to date
<br />2015 2014
<br />$ 85,364,403 $103,112,486
<br />$ 41,108,894
<br />$ 61,926,485
<br />10, 534, 583
<br />14, 89 6,359
<br />51,643,477
<br />76,822,844
<br />51,846,507
<br />77,140,998
<br />(203,030)
<br />$ (318,154)
<br />.Included in the accompanying consolidated balance sheets under the following captions:
<br />2015 2014
<br />Costs and estimated earnings in excess of billings on
<br />uncompleted contracts
<br />Billings in excess of costs and estimated earnings on
<br />uncompleted contracts
<br />12
<br />$ 2,015,557 $ 2,102,737
<br />(2,218,587) (2,420,891)
<br />$ (203,030) (318,154
<br />
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