v3.8.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 16,566,711 $ 18,529,757
Accounts receivable and accrued billings 16,495,418 21,566,842
Costs and estimated earnings in excess of billings on uncompleted contracts 13,697,310 6,074,346
Income taxes receivable 0 619,552
Residential properties under construction 3,581,864 2,412,202
Prepaid expenses 1,087,420 993,668
Other current assets 1,661,135 1,532,110
Total current assets 53,089,858 51,728,477
Property, buildings and equipment, at cost, net of accumulated depreciation of $40,666,240 in 2018 and $38,927,654 in 2017 38,388,082 36,072,300
Deferred charges and other assets    
Land and land development costs 4,760,759 4,326,728
Cash surrender value of life insurance 549,334 550,335
Restricted cash 102,027 102,027
Goodwill 101,407 101,407
Intangibles, net of accumulated amortization of $278,509 in 2018 and $263,134 in 2017 735,291 750,666
Total deferred charges and other assets 6,248,818 5,831,163
Total assets 97,726,758 93,631,940
Current liabilities    
Accounts payable and accrued liabilities 12,017,673 9,379,535
Billings in excess of costs and estimated earnings on uncompleted contracts 105,634 166,268
Current portion of other long term debt 108,979 0
Current portion of notes payable, net 6,100,885 6,099,787
Income taxes payable 348,708 0
Accrued remediation costs 78,577 87,553
Total current liabilities 18,760,456 15,733,143
Deferred income taxes 4,618,399 4,698,720
Accrued remediation costs, less current portion 434,164 434,164
Other long term debt, less current portion, net 269,755 0
Notes payable, less current portion, net 14,625,868 16,151,567
Other accrued liabilities 64,128 66,033
Total liabilities 38,772,770 37,083,627
Commitments and contingencies (notes 4 and 6) 0 0
Stockholders’ equity    
Preferred stock, $1 par value, 5,000,000 shares authorized, none issued
Common stock, $.10 par value, 40,000,000 shares authorized; 27,813,772 shares issued and 25,451,354 shares outstanding 2,781,377 2,781,377
Additional paid-in capital 18,481,683 18,481,683
Retained earnings 38,999,115 36,593,440
Treasury stock, 2,362,418 shares, at cost (1,308,187) (1,308,187)
Total stockholders’ equity 58,953,988 56,548,313
Total liabilities and stockholders’ equity $ 97,726,758 $ 93,631,940

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