v3.19.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 15,037,639 $ 11,376,373
Accounts receivable and accrued billings 27,155,515 22,236,071
Real estate inventory 5,137,139 0
Costs and estimated earnings in excess of billings on uncompleted contracts 14,216,479 12,030,000
Income taxes receivable 1,069,445 1,220,527
Residential properties under construction 203,075 8,244,995
Prepaid expenses 1,563,796 634,069
Other current assets 867,915 1,835,743
Total current assets 65,251,003 57,577,778
Property, buildings and equipment, at cost, net of accumulated depreciation of $45,402,205 in 2019 and $43,060,083 in 2018 56,588,575 48,927,055
Deferred charges and other assets    
Land and land development costs 4,561,742 4,680,080
Cash surrender value of life insurance 546,134 547,009
Restricted cash 25,980 25,980
Goodwill 101,407 101,407
Intangibles, net of accumulated amortization of $339,676 in 2019 and $324,634 in 2018 674,124 689,166
Other assets 3,215,736 0
Total deferred charges and other assets 9,125,123 6,043,642
Total assets 130,964,701 112,548,475
Current liabilities    
Accounts payable and accrued liabilities 18,116,933 15,999,157
Billings in excess of costs and estimated earnings on uncompleted contracts 1,091,720 1,165,002
Current portion of other long-term debt 115,528 113,855
Current portion of notes payable, net 12,301,391 7,161,890
Accrued remediation costs 65,136 60,101
Total current liabilities 31,690,708 24,500,005
Deferred income taxes 6,737,224 6,061,042
Accrued remediation costs, less current portion 421,455 436,982
Other long-term debt, less current portion, net 154,227 183,744
Notes payable, less current portion, net 30,246,381 21,731,024
Other accrued liabilities 490,938 30,246
Total liabilities 69,740,933 52,943,043
Commitments and contingencies (notes 4 and 6) 0 0
Stockholders’ equity    
Preferred stock, $1 par value, 5,000,000 shares authorized, none issued 0 0
Common stock, $.10 par value, 40,000,000 shares authorized; 27,813,772 shares issued 24,522,534 shares outstanding in 2019 and 24,590,243 shares outstanding in 2018 2,781,377 2,781,377
Additional paid-in capital 18,481,683 18,481,683
Retained earnings 43,400,812 41,621,191
Treasury stock, 3,291,238 shares in 2019 and 3,223,529 shares in 2018, at cost (3,440,104) (3,278,819)
Total stockholders’ equity 61,223,768 59,605,432
Total liabilities and stockholders’ equity $ 130,964,701 $ 112,548,475

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