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CONDENSED BALANCE SHEETS - USD ($)
Sep. 30, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash and cash equivalents $ 2,001,244 $ 1,048,713
Short-term investments 1,915,000 3,246,000
Trade receivables, less allowance of $52,000 in 2017 and $54,000 in 2016 1,644,232 2,336,501
Inventories 2,546,309 1,986,172
Prepaid expenses and other assets 104,209 361,905
Income taxes receivable 327,733 66,181
Total current assets 8,538,727 9,045,472
PROPERTY, PLANT, AND EQUIPMENT, at cost:    
Land and building 9,202,715 9,189,743
Machinery and equipment 4,980,101 4,884,814
Office equipment 1,600,760 1,566,856
Vehicles 245,679 272,144
Gross property, plant, and equipment, at cost 16,029,255 15,913,557
Less accumulated depreciation (7,561,542) (7,001,162)
Net property, plant, and equipment, at cost 8,467,713 8,912,395
INTANGIBLE ASSETS, less accumulated amortization of $168,511 in 2017 and $149,072 in 2016 351,108 338,127
Total assets 17,357,548 18,295,994
CURRENT LIABILITIES:    
Current portion of long-term debt, net 129,995 127,303
Accounts payable 800,698 730,386
Accrued compensation 235,340 388,600
Other accrued liabilities 116,094 67,088
Total current liabilities 1,282,127 1,313,377
LONG-TERM LIABILITIES    
Long-term debt, less current portion, net 2,979,614 3,077,457
Deferred income taxes 446,000 446,000
Total long-term liabilities 3,425,614 3,523,457
Total liabilities 4,707,741 4,836,834
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:    
Preferred stock, par value $.10 per share; authorized 250,000 shares: none issued
Common stock, par value $.10 per share; authorized 4,750,000 shares; issued and outstanding 1,992,053 shares in 2017 and 2,018,753 shares in 2016 199,205 201,875
Additional paid-in capital 2,714,861 2,732,006
Retained earnings 9,735,741 10,525,279
Total stockholders' equity 12,649,807 13,459,160
Total liabilities and stockholders' equity $ 17,357,548 $ 18,295,994