XML 12 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash $ 1,500,847 $ 3,693,845
Trade receivables, less allowance of $54,000 in 2021 and $55,000 in 2020 1,875,177 2,119,213
Inventories 1,649,517 1,644,975
Prepaid expenses and other assets 183,516 125,969
Income taxes receivable 5,331 219,451
Total current assets 5,214,388 7,803,453
PROPERTY, PLANT, AND EQUIPMENT, at cost:    
Land and building 9,556,586 9,556,586
Machinery and equipment 5,273,968 5,263,586
Office equipment 1,420,494 1,417,219
Vehicles 222,120 245,674
Property, plant, and equipment, Gross 16,473,168 16,483,065
Less accumulated depreciation (9,540,029) (9,094,702)
Total property, plant and equipment at cost, net 6,933,139 7,388,363
INTANGIBLE ASSETS, less accumulated amortization of $212,913 in 2021 and $207,399 in 2020 232,679 243,583
Total assets 12,380,206 15,435,399
CURRENT LIABILITIES    
Current portion of long-term debt 0 2,688,396
Accounts payable 1,615,868 459,836
Accrued compensation 419,574 279,755
Other accrued liabilities 162,861 168,066
Total current liabilities 2,198,303 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 1,981,527 shares in 2021 and 1,976,354 in 2020 198,153 197,635
Additional paid-in-capital 2,981,620 2,743,930
Retained earnings 7,002,130 8,897,781
Total stockholders' equity 10,181,903 11,839,346
Total liabilities and stockholders' equity $ 12,380,206 $ 15,435,399