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Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and cash equivalents $ 1,263,762 $ 1,290,797
Accounts receivable, net of allowance for doubtful accounts of $198,623 at December 31, 2019 and $165,840 at December 31, 2018 2,537,892 2,866,474
Inventory 1,263,589 762,165
Prepaid expenses and other current assets 379,982 291,837
Income tax receivable 167,673 0
TOTAL CURRENT ASSETS 5,612,898 5,211,273
LONG-TERM ASSETS    
Property and equipment, net 74,149 86,656
Operating lease right-of-use assets 77,922 0
Contract and other long-term assets 1,037,364 528,401
Long-term accounts receivable - financed contracts 2,253,667 1,030,354
TOTAL LONG-TERM ASSETS 3,443,102 1,645,411
TOTAL ASSETS 9,056,000 6,856,684
CURRENT LIABILITIES    
Accounts payable and accrued expenses 367,730 387,868
Payroll liabilities 44,500 34,388
Current portion of operating lease liabilities 53,538 0
Notes payable 0 2,221
Customer deposits 253,709 334,784
Income taxes payable 0 53,027
TOTAL CURRENT LIABILITIES 719,477 812,288
LONG-TERM LIABILITIES    
Operating lease liabilities 27,867 0
Contract liabilities 3,148,410 1,690,660
Deferred tax liability 543,000 555,000
TOTAL LIABILITIES 4,438,754 3,057,948
STOCKHOLDERS' EQUITY    
Common stock, $0.001 par value; 25,000,000 shares authorized: 4,656,734 shares issued; and 4,506,788 and 4,528,669 shares outstanding at December 31, 2019 and 2018, respectively. 4,507 4,529
Additional paid-in capital 1,847,594 1,795,955
Retained earnings 3,010,776 2,194,778
Stockholders' Equity before Treasury Stock 4,862,877 3,995,262
Treasury stock, 149,946 and 128,065 shares (at cost) at December 31, 2019 and 2018, respectively (245,631) (196,526)
TOTAL STOCKHOLDERS' EQUITY 4,617,246 3,798,736
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 9,056,000 $ 6,856,684