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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Condensed Consolidated Statements of Income (Unaudited)        
Net sales $ 7,645,259 $ 8,188,905 $ 19,325,234 $ 25,686,034
Cost of goods sold 6,004,766 6,539,138 16,304,164 20,826,534
Gross profit 1,640,493 1,649,767 3,021,070 4,859,500
Selling and administrative expenses 1,258,995 1,282,149 3,758,752 3,931,510
Operating profit (loss) 381,498 367,618 (737,682) 927,990
Other income 32,637 47,179 122,869 145,208
Income (loss) before income taxes 414,135 414,797 (614,813) 1,073,198
Provision (benefit) for income taxes 105,000 99,000 (201,000) 241,000
Net income (loss) $ 309,135 $ 315,797 $ (413,813) $ 832,198
Per share data, basic and diluted:        
Net income (loss) per share $ 0.32 $ 0.32 $ (0.43) $ 0.86
Average common shares outstanding 966,132 966,132 966,132 966,132
Cash dividends declared per share $ 0.10 $ 0.22 $ 0.42 $ 0.96