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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 898,643 $ 1,152,569
Certificates of deposit 7,561,000 7,810,000
Accounts receivable, net [1] 6,754,505 5,326,650
Inventories, net 4,596,678 4,528,100
Prepaid income taxes   84,112
Other current assets 339,131 357,918
Total current assets 20,149,957 19,259,349
Property, Plant and Equipment:    
Land 923,587 923,587
Land improvements 611,847 611,847
Buildings and improvements 8,039,831 8,039,831
Production equipment and other 34,824,982 34,607,507
Property, Plant and Equipment Gross 44,400,247 44,182,772
Less accumulated depreciation 31,943,387 31,625,819
Net property, plant and equipment 12,456,860 12,556,953
Total assets 32,606,817 31,816,302
Current Liabilities:    
Accounts payable 1,647,297 737,040
Accrued wages and salaries 659,681 674,316
Other accrued expenses 427,686 495,132
Unearned revenue and customer deposits 74,053 312,775
Total current liabilities 2,808,717 2,219,263
Deferred income taxes 723,084 737,084
Total liabilities 3,531,801 2,956,347
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 31,411,884 31,196,823
Less: Treasury stock [4] 3,922,098 3,922,098
Total shareholders' equity 29,075,016 28,859,955
Total liabilities and shareholders' equity $ 32,606,817 $ 31,816,302
[1] Net of allowance of $140,000.
[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.