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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Sales $ 37,680,769 $ 38,810,884 $ 96,895,216 $ 85,185,634
Cost of goods sold 29,570,653 31,647,487 75,352,946 68,249,699
Gross margin 8,110,116 7,163,397 21,542,270 16,935,935
Expenses:        
Selling, general & administrative expenses 5,230,473 3,869,673 14,214,927 11,311,543
Depreciation and amortization 216,176 179,782 637,307 539,217
Total operating expenses 5,446,649 4,049,455 14,852,234 11,850,760
Operating income 2,663,467 3,113,942 6,690,036 5,085,175
Interest expense 188,853 155,799 545,579 445,411
Other income (expense):        
Gain on forgiveness of Federal Loan 1,668,200 0 1,668,200 0
Write-off of notes receivable and accrued interest receivable (949,174) 0 (949,174) 0
Other, net (60,784) 26,954 494,212 120,510
Income before income taxes 3,132,856 2,985,097 7,357,695 4,760,274
Income tax expense 26,455 273 89,910 35,127
Net income $ 3,106,401 $ 2,984,824 $ 7,267,785 $ 4,725,147
Basic earnings per share:        
Net income Basic $ 0.12 $ 0.11 $ 0.27 $ 0.18
Diluted earnings per share:        
Net income Diluted $ 0.12 $ 0.11 $ 0.27 $ 0.18
Weighted average shares outstanding:        
Basic 26,924,631 26,924,381 26,924,631 26,924,381
Diluted 26,939,631 26,939,631 26,939,631 26,939,631