XML 40 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
STATEMENTS OF INCOME (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
CONDENSED STATEMENTS OF INCOME    
NET SALES $ 17,491,408 $ 17,312,407
COST OF GOODS SOLD 10,553,553 10,367,563
GROSS PROFIT 6,937,855 6,944,844
SELLING, GENERAL AND ADMINSTRATIVE EXPENSES 5,368,400 5,282,187
RESEARCH AND DEVELOPMENT EXPENSES 649,325 629,776
OPERATING EXPENSES 6,017,725 5,911,963
INCOME FROM OPERATIONS 920,130 1,032,881
INTEREST INCOME 7,043 12,050
INCOME BEFORE INCOME TAXES 927,173 1,044,931
FEDERAL AND STATE INCOME TAXES (Note 2) 245,000 351,000
NET INCOME $ 682,173 $ 693,931
EARNINGS PER COMMON SHARE:    
Basic (in dollars per share) $ 0.34 $ 0.35
Diluted (in dollars per share) $ 0.34 $ 0.35
WEIGHTED AVERAGE COMMON SHARES:    
Basic (in shares) 2,006,843 1,988,066
Diluted (in shares) 2,010,659 1,990,847