Note 4 - Reclassifications

9 Months Ended

Sep. 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

nine

months ended

September 30, 2018

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

$69,628

and

$226,207

,

respectively. 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.