Laserfiche WebLink
HEWETT-KIER CONSTRUCTION, INC. <br /> NOTES TO FINANCIAL STATEMENTS <br /> FOR THE YEAR ENDED DECEMBER 31, 1998 <br /> NOTE 2. MARKETABLE SECURITIES <br /> At December 31, 1998 the cost and fair value of investments in debt and equity securities <br /> are as follows: <br /> Gross Gross <br /> Unrealized Unrealized <br /> Cost Gains Losses Fair Value <br /> Equity securities $ 365,757 $249,073 $ 975 $ 613,855 <br /> Mutual funds <br /> Corporate bond funds 1,141,950 71,513 5,860 1,207,603 <br /> Government securities - <br /> funds 97,877 16,374 81,503 <br /> Municipal bond funds 666,741 30,834 697,575 <br /> Municipal bonds 207.421 14.754 222.175 <br /> $2479.746 $366,174 ,$23.20_3 52,822,711 <br /> For the year ended December 31, 1998 the change in unrealized holding gains and losses <br /> was $130,067 after reflecting current unrealized gains of $250,092 and disposal of various <br /> securities with combined net gains of$120,025. <br /> NOTE 3. CONTRACTS IN PROCESS <br /> Contracts in process consisted of the following: <br /> Costs incurred on uncompleted contracts $49,153,096 <br /> Recognized profit 3.174.553 <br /> 52,327,649 <br /> Billings on uncompleted contracts 52,459,247 <br /> ($._131._5_9_8) <br /> These amounts are included in the accompanying balance sheet as follows: <br /> Unbilled work on contracts in process S 3_3_916_6 <br /> Advance billings on contracts in process $ 470,764 <br /> 7 <br /> aun�ncik - crnnntrw • AA Ic AT - STEIN G COhWANY <br />