v3.10.0.1
Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 13,554,099 $ 18,529,757
Accounts receivable and accrued billings 17,639,436 21,566,842
Costs and estimated earnings in excess of billings on uncompleted contracts 15,003,984 6,074,346
Income taxes receivable 720,221 619,552
Residential properties under construction 6,804,309 2,412,202
Prepaid expenses 1,201,772 993,668
Other current assets 975,453 1,532,110
Total current assets 55,899,274 51,728,477
Property, buildings and equipment, at cost, net of accumulated depreciation of $41,895,029 in 2018 and $38,927,654 in 2017 47,466,464 36,072,300
Deferred charges and other assets    
Land and land development costs 5,089,867 4,326,728
Cash surrender value of life insurance 548,016 550,335
Restricted cash 25,980 102,027
Goodwill 101,407 101,407
Intangibles, net of accumulated amortization of $309,259 in 2018 and $263,134 in 2017 704,541 750,666
Total deferred charges and other assets 6,469,811 5,831,163
Total assets 109,835,549 93,631,940
Current liabilities    
Accounts payable and accrued liabilities 16,601,639 9,379,535
Billings in excess of costs and estimated earnings on uncompleted contracts 329,412 166,268
Current portion of other long-term debt 112,206 0
Current portion of notes payable, net 6,897,725 6,099,787
Accrued remediation costs 69,283 87,553
Total current liabilities 24,010,265 15,733,143
Deferred income taxes 5,687,507 4,698,720
Accrued remediation costs, less current portion 428,976 434,164
Other long-term debt, less current portion, net 212,834 0
Notes payable, less current portion, net 18,521,537 16,151,567
Other accrued liabilities 62,104 66,033
Total liabilities 48,923,223 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 40,957,453 36,593,440
Treasury stock, 2,362,418 shares, at cost (1,308,187) (1,308,187)
Total stockholders’ equity 60,912,326 56,548,313
Total liabilities and stockholders’ equity $ 109,835,549 $ 93,631,940

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