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Condensed Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 617,246 $ 1,623,137
Short-term investments 2,940,000 2,695,000
Trade receivables, less allowance of $112,000 in 2019 and $53,000 in 2018 1,821,114 2,215,215
Inventories 2,840,176 2,046,588
Prepaid expenses and other assets 259,839 375,362
Income taxes receivable 113,321 2,768
Total current assets 8,591,696 8,958,070
PROPERTY, PLANT, AND EQUIPMENT, at cost:    
Land and building 9,500,429 9,500,429
Machinery and equipment 5,022,691 4,964,816
Office equipment 1,564,978 1,559,728
Vehicles 245,674 245,679
Property, plant, and equipment, Gross 16,333,772 16,270,652
Less accumulated depreciation (8,298,897) (8,185,910)
Total property, plant and equipment at cost, net 8,034,875 8,084,742
INTANGIBLE ASSETS, less accumulated amortization of $155,908 in 2019 and $149,740 in 2018 372,693 376,406
Total assets 16,999,264 17,419,218
CURRENT LIABILITIES    
Current portion of long-term debt 129,582 129,282
Accounts payable 860,106 647,528
Accrued compensation 236,935 366,900
Other accrued liabilities 143,019 159,821
Total current liabilities 1,369,642 1,303,531
LONG-TERM LIABILTIES    
Long-term debt, less current portion 2,788,703 2,821,657
Deferred income taxes 183,000 183,000
Total long-term liabilities 2,971,703 3,004,657
Total liabilities 4,341,345 4,308,188
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Preferred stock, par value $.10 per share; authorized 250,000 shares; issued none
Common stock, par value $.10 per share; authorized 4,750,000 shares; issued and outstanding 1,983,553 shares in 2019 and 2018. 198,355 198,355
Additional paid-in-capital 2,724,944 2,723,024
Retained earnings 9,734,620 10,189,651
Total stockholders' equity 12,657,919 13,111,030
Total liabilities and stockholders' equity $ 16,999,264 $ 17,419,218