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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 893,210 $ 353,475
Certificates of deposit 6,814,000 8,059,000
Accounts receivable, net [1] 5,952,843 5,323,519
Inventories, net 4,995,843 4,537,693
Prepaid income taxes   56,112
Other current assets 472,692 423,952
Total current assets 19,128,588 18,753,751
Property, Plant and Equipment:    
Land 923,587 923,587
Land improvements 611,847 501,102
Buildings and improvements 7,984,453 7,333,942
Production equipment and other 34,448,415 34,447,193
Property, Plant and Equipment Gross 43,968,302 43,205,824
Less accumulated depreciation 31,331,753 30,755,266
Net property, plant and equipment 12,636,549 12,450,558
Total assets 31,765,137 31,204,309
Current Liabilities:    
Accounts payable 994,469 703,467
Accrued wages and salaries 852,126 690,526
Other accrued expenses 546,117 604,174
Unearned revenue and customer deposits 251,738 286,133
Total current liabilities 2,644,450 2,284,300
Deferred income taxes 980,084 1,028,084
Total liabilities 3,624,534 3,312,384
Shareholders' Equity:    
Preferred stock [2] 0 0
Common stock [3] 1,138,096 1,138,096
Additional paid-in capital 447,134 447,134
Retained earnings 30,477,471 30,228,793
Less: Treasury stock [4] 3,922,098 3,922,098
Total shareholders' equity 28,140,603 27,891,925
Total liabilities and shareholders' equity $ 31,765,137 $ 31,204,309
[1] Net of allowance of $150,000.
[2] No par value, 500,000 shares authorized, none outstanding.
[3] $1.00 par value, 4,000,000 shares authorized, 1,138,096 shares issued, 966,132 shares outstanding.
[4] At cost, 171,964 shares.