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CONDENSED BALANCE SHEETS - USD ($)
Jun. 30, 2015
Jun. 30, 2014
CURRENT ASSETS    
Cash and cash equivalents $ 347,598 $ 480,107
Accounts receivable 1,329,327 1,259,294
Inventories 2,031,232 1,960,564
Prepaid expenses and other current assets 73,204 57,194
TOTAL CURRENT ASSETS 3,781,361 3,757,159
PLANT, PROPERTY AND EQUIPMENT:    
Land and improvements 651,015 651,015
Building and improvements 1,948,165 1,948,165
Machinery and equipment 3,332,356 3,301,053
Furniture and fixtures 268,700 268,700
Property, Plant And Equipment, gross 6,200,236 6,168,933
Less accumulated depreciation (5,348,560) (5,312,129)
Property, Plant And Equipment, net 851,676 856,804
DEFERRED COSTS 65,095 65,095
TOTAL OTHER ASSETS 65,095 65,095
TOTAL ASSETS 4,698,132 4,679,058
CURRENT LIABILITIES:    
Notes payable - Current portion 500,000 500,000
Trade accounts payable 348,253 370,213
Accrued expenses and other liabilities 443,798 377,944
Accrued compensation and benefits payable 200,186 120,685
Accrued pension costs 203,757 188,018
TOTAL CURRENT LIABILITIES 1,695,994 1,556,860
LONG-TERM PORTION OF NOTE PAYABLE 0 0
LONG-TERM PENSION LIABILITY 1,051,005 965,642
TOTAL LIABILITIES 2,746,999 2,522,502
STOCKHOLDERS' EQUITY:    
Preferred stock, par value $1.00; authorized 250,000 shares, issued and outstanding-none 0 0
Common stock, par value $.01; authorized 3,000,000 shares; 1,693,397 shares issued and 1,362,031 shares outstanding at June 30, 2015 and 2014 16,934 16,934
Additional paid-in capital 2,882,842 2,882,842
Retained earnings 430,628 550,688
Accumulated other comprehensive loss (892,243) (806,880)
Stockholders Equity before treasury stock 2,438,161 2,643,584
Less: Treasury stock, 331,366 shares at June 30, 2015 and 2014, at cost (487,028) (487,028)
TOTAL STOCKHOLDERS' EQUITY 1,951,133 2,156,556
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,698,132 $ 4,679,058