Note 4 - Reclassifications

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Reclassifications [Text Block]

4. Reclassifications

Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements. These reclassifications had

no

effect on the previously reported net income.

In accordance with ASC Topic

606

“Revenue from Contracts with Customers”, for the

three

and

six

months ended

June 30, 2018

the Company reclassified certain sales rebates from Cost of Sales to Net Sales, in the amounts of

$73,330

and

$156,579

,

respectively. For the

three

months ended

March 31, 2019,

the Company reclassified certain sales rebates from Cost of Sales to Net Sales in the amount of

$

101,706

,

which impacted the

six

months ended

June 30, 2019

by that same amount. The reclassification had

no

effect on gross profit, net income, the provision for income taxes or earnings per share for either period. See Note

5

for further discussion regarding ASU Topic

606.