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Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Net Sales $ 3,317,370 $ 3,344,374 $ 9,777,086 $ 10,666,525
Costs and expenses:        
Cost of sales 1,386,948 1,197,448 4,142,616 4,101,973
Operating expenses 544,176 519,330 1,593,232 1,577,864
Research and development 104,800 98,301 297,304 291,250
Total costs and expenses 2,035,924 1,815,079 6,033,152 5,971,087
Income from operations 1,281,446 1,529,295 3,743,934 4,695,438
Other Income (expense):        
Investment income 47,320 38,048 141,428 142,607
Net gain (loss) on marketable securities 25,499 99,145 369,542 (54,261)
Loss on trade-in of equipment (12,837)
Total other income 72,819 137,193 510,970 75,509
Income before provision for income taxes 1,354,265 1,666,488 4,254,904 4,770,947
Provision for income taxes 284,394 349,964 883,529 1,001,899
Net Income $ 1,069,871 $ 1,316,524 $ 3,371,375 $ 3,769,048
Earnings per common share        
(Basic and Diluted) (in dollars per share) $ 0.23 $ 0.29 $ 0.73 $ 0.82
Weighted average shares – basic and diluted (in shares) 4,594,319 4,594,319 4,594,319 4,594,319