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Condensed Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash $ 2,260,855 $ 3,693,845
Trade receivables, less allowance of $54,000 in 2021 and $55,000 in 2020 1,651,035 2,119,213
Inventories 1,607,828 1,644,975
Prepaid expenses and other assets 162,786 125,969
Income taxes receivable 30,412 219,451
Total current assets 5,712,916 7,803,453
PROPERTY, PLANT, AND EQUIPMENT, at cost:    
Land and building 9,556,586 9,556,586
Machinery and equipment 5,271,367 5,263,586
Office equipment 1,420,494 1,417,219
Vehicles 245,674 245,674
Property, plant, and equipment, Gross 16,494,121 16,483,065
Less accumulated depreciation (9,410,087) (9,094,702)
Total property, plant and equipment at cost, net 7,084,034 7,388,363
INTANGIBLE ASSETS, less accumulated amortization of $205,697 in 2021 and $207,399 in 2020 245,832 243,583
Total assets 13,042,782 15,435,399
CURRENT LIABILITIES    
Current portion of long-term debt 0 2,688,396
Accounts payable 1,521,736 459,836
Accrued compensation 466,547 279,755
Other accrued liabilities 99,774 168,066
Total current liabilities 2,088,057 3,596,053
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Preferred stock, par value $.10 per share; authorized 250,000 shares; issued none 0 0
Common stock, par value $.10 per share; authorized 4,750,000 shares; issued and outstanding 1,980,694 shares in 2021 and 1,976,354 in 2020 198,069 197,635
Additional paid-in-capital 2,902,790 2,743,930
Retained earnings 7,853,866 8,897,781
Total stockholders' equity 10,954,725 11,839,346
Total liabilities and stockholders' equity $ 13,042,782 $ 15,435,399