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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current Assets:    
Cash and cash equivalents $ 3,075,766 $ 2,567,731
Certificates of deposit 2,990,000 4,733,000
Accounts receivable - Less allowances of $170,000 6,869,891 5,163,450
Inventories, net 6,311,960 5,153,294
Prepaid income taxes 0 85,940
Other current assets 384,811 383,772
Total current assets 19,632,428 18,087,187
Property, Plant and Equipment:    
Land and improvements 1,636,749 1,636,749
Buildings and improvements 8,449,768 8,440,738
Production equipment and other 36,344,494 36,333,550
Property, Plant and Equipment, Gross 46,431,011 46,411,037
Less accumulated depreciation 33,509,910 33,260,153
Net property, plant and equipment 12,921,101 13,150,884
Total assets 32,553,529 31,238,071
Current Liabilities:    
Accounts payable 1,135,304 466,424
Accrued wages and salaries 686,571 482,008
Other accrued expenses 317,568 322,968
Unearned revenue and customer deposits 205,774 249,498
Federal and state income taxes 194,560 0
Total current liabilities 2,539,777 1,520,898
Deferred income taxes 980,084 1,011,084
Total liabilities 3,519,861 2,531,982
Shareholders' Equity:    
Preferred stock, no par value, 500,000 shares authorized: none outstanding 0 0
Common stock, $1.00 par value, 4,000,000 shares authorized, 1,138,096 shares issued; 966,132 shares outstanding 1,138,096 1,138,096
Additional paid-in capital 447,134 447,134
Retained earnings 31,370,536 31,042,957
Treasury stock, 171,964 shares at cost (3,922,098) (3,922,098)
Total shareholders' equity 29,033,668 28,706,089
Total liabilities and shareholders' equity $ 32,553,529 $ 31,238,071