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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Current Assets:    
Cash and cash equivalents $ 4,236,284 $ 2,567,731
Certificates of deposit 1,994,000 4,733,000
Accounts receivable - Less allowances of $170,000 5,909,978 5,163,450
Inventories, net 7,056,669 5,153,294
Prepaid income taxes 27,440 85,940
Other current assets 377,677 383,772
Total current assets 19,602,048 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 36,573,244 36,333,550
Property, Plant and Equipment, Gross 46,659,761 46,411,037
Less accumulated depreciation 33,840,234 33,260,153
Net property, plant and equipment 12,819,527 13,150,884
Total assets 32,421,575 31,238,071
Current Liabilities:    
Accounts payable 1,042,507 466,424
Accrued wages and salaries 876,502 482,008
Other accrued expenses 342,603 322,968
Unearned revenue and customer deposits 80,253 249,498
Total current liabilities 2,341,865 1,520,898
Deferred income taxes 939,084 1,011,084
Total liabilities 3,280,949 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 31,477,494 31,042,957
Treasury stock, 171,964 shares at cost (3,922,098) (3,922,098)
Total shareholders' equity 29,140,626 28,706,089
Total liabilities and shareholders' equity $ 32,421,575 $ 31,238,071