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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Dec. 31, 2016
Jun. 30, 2016
Current Assets:    
Cash and cash equivalents $ 897,100 $ 1,245,000
Investment securities 290,900 290,100
Trade accounts receivable, net 1,668,000 1,231,900
Inventories 2,125,000 2,412,100
Prepaid expenses and other current assets 122,500 47,200
Deferred taxes 127,500 140,600
Total current assets 5,231,000 5,366,900
Property and equipment at cost, net 220,200 251,100
Intangible assets, net 758,300 897,600
Goodwill 705,300 705,300
Other assets 52,500 52,500
Deferred taxes 277,500 275,900
Total assets 7,244,800 7,549,300
Current Liabilities:    
Accounts payable 300,200 342,400
Customer advances 17,000 0
Bank line of credit 250,000 0
Notes payable, current portion 6,500 6,400
Dividends payable 44,700 0
Accrued expenses and taxes, current portion 510,300 849,700
Contingent consideration payable, current portion 161,800 136,500
Total current liabilities 1,290,500 1,335,000
Notes payable, less current portion 9,200 12,500
Contingent consideration payable, less current portion 67,100 209,800
Accrued expenses, less current portion 0 60,000
Total liabilities 1,366,800 1,617,300
Shareholders' equity:    
Common stock, $.05 par value; authorized 7,000,000 shares; 1,508,914 outstanding at December 31, 2016 and June 30, 2016 75,400 75,400
Additional paid-in capital 2,499,500 2,498,500
Accumulated other comprehensive income (loss) (6,000) 900
Retained earnings 3,361,500 3,409,600
Total 5,930,400 5,984,400
Less common stock held in treasury, at cost, 19,802 shares 52,400 52,400
Total shareholders' equity 5,878,000 5,932,000
Total liabilities and shareholders' equity $ 7,244,800 $ 7,549,300