Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2019			2018
Deferred tax assets		-			-
Deferred tax liabilities		(187,664	)		(187,664	)
	$	(187,664	)	$	(187,664	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2019			2018
Income tax on income before extraordinary item:
Tax at statutory rates	$	61,481		$	307,830
Tax effect of the following:
Statutory depletion		(15,763	)		(18,175	)
Section 179 deduction		-			(1,149	)
State income tax		3,109			62,137
Other		(2,081	)		-
Income tax on income	$	46,746		$	350,643

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2019			2018
Casualty loss	$	(77,714	)	$	(77,714	)
Deferred gain		(109,950	)		(109,950	)
	$	(187,664	)	$	(187,664	)