BUSINESS SEGMENT DATA

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 6 BUSINESS SEGMENT DATA

 

The Company’s operations are conducted through two business segments. These segments, and the primary operations of each, are as follows:

Business Segment	Operation
Fruit	Production of candied fruit, a basic fruitcake ingredient, sold to manufacturing bakers, institutional users, and retailers for use in home baking.  Also, based on market conditions, the processing of frozen strawberry products, for sale to commercial and institutional users such as preservers, dairies, drink manufacturers, etc.
Molded Plastics	Production of plastics containers and other molded plastics for sale to various food processors and others.

	March 31,		March 31,
	2018		2017
	(Restated)
Net Sales in Each Segment
Fruit:
Sales to Unaffiliated Customers	$	592,618	$	932,519
Molded Plastics:
Sales to Unaffiliated Customers		1,533,660		1,516,081
Net Sales	$	2,126,278	$	2,448,600

The Company does not prepare operating profit or loss information on a segment basis for internal use, until the end of each year. Due to the seasonal nature of the fruit segment, management believes that it is not practical to prepare this information for interim reporting purposes. Therefore, reporting is not required by accounting principles generally accepted in the United States of America. 

	March 31,		March 31,
	2018		2017
	(Restated)
Identifiable Assets of Each Segment are Listed Below:
Fruit	$	11,812,208	$	11,474,015
Molded Plastics		4,416,137		4,266,196
Identifiable Assets		16,228,345		15,740,211
General Corporate Assets		8,944,371		9,144,166
Total Assets	$	25,172,716	$	24,884,377

Identifiable assets by segment are those assets that are principally used in the operations of each segment. General corporate assets are principally cash, prepaid expenses, other current assets, land and income tax assets.