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CONDENSED BALANCE SHEETS - USD ($)
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash and cash equivalents (Note 7) $ 2,248,466 $ 1,936,214
Short-term investments 0 1,766,000
Trade receivables, less allowance of $122,000 in 2015 and $49,000 in 2014 (Notes 5 and 7) 2,165,194 2,096,328
Inventories 2,119,805 2,630,650
Prepaid expenses and other assets 85,648 86,400
Income taxes receivable 102,778 163,651
Deferred income taxes (Note 2) 195,000 178,000
Total current assets 6,916,891 8,857,243
PROPERTY, PLANT, AND EQUIPMENT, at cost:    
Land and building 6,391,555 6,247,781
Machinery and equipment 4,275,910 3,956,561
Office equipment 933,596 754,220
Vehicles 272,141 247,356
Construction in progress 2,491,432  
Gross property, plant, and equipment, at cost 14,364,634 11,205,918
Less accumulated depreciation (6,407,304) (5,789,070)
Net property, plant, and equipment, at cost 7,957,330 5,416,848
INTANGIBLE ASSETS, less accumulated amortization of $123,957 in 2015 and $198,918 in 2014 (Note 3) 336,096 353,871
Total assets 15,210,317 14,627,962
CURRENT LIABILITIES:    
Accounts payable - Trade 420,245 371,181
Accounts payable - Construction 333,339  
Accrued compensation 350,518 294,706
Other accrued liabilities 31,000 78,610
Total current liabilities 1,135,102 744,497
DEFERRED INCOME TAXES (Note 2) 580,000 545,000
Total liabilities $ 1,715,102 $ 1,289,497
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS' EQUITY:    
Common stock, par value $.10 per share; authorized 4,750,000 shares: issued and outstanding 2,018,253 shares in 2015 and 2014 $ 201,825 $ 201,825
Additional paid-in capital 2,703,050 2,681,307
Retained earnings 10,590,340 10,455,333
Total stockholders' equity 13,495,215 13,338,465
Total liabilities and stockholders' equity $ 15,210,317 $ 14,627,962