Carrying Amounts and Fair Values of Certain Assets and Liabilities |
The following tables summarize the carrying amounts and fair values of certain assets and liabilities at June 30, 2014 and December 31, 2013: | | | | | | | | | | | | | | | | | | | | Fair Value at June 30, 2014 Using | | | | Quoted Prices in | | | | | | Carrying | | Active Markets for | | Significant Other | | Significant | | Amount at | | Identical Assets | | Observable Inputs | | Unobservable Inputs | | 6/30/2014 | | (Level 1) | | (Level 2) | | (Level 3) | Description | | | | | | | | Available-for-sale securities | | | | | | | | Short-term investments (money market funds and accrued income) | $ | 1,079,217 |
| | $ | — |
| | $ | 1,079,217 |
| | $ | — |
| Obligations of U.S. Treasury, U.S. government corporations and agencies | 4,083,250 |
| | — |
| | 4,083,250 |
| | — |
| Mortgage backed securities | 71,730 |
| | — |
| | 71,730 |
| | — |
| Corporate debt securities | 5,481,110 |
| | — |
| | 5,481,110 |
| | — |
| Total available-for-sale securities | $ | 10,715,307 |
| | $ | — |
| | $ | 10,715,307 |
| | $ | — |
|
| | | | | | | | | | | | | | | | | | | | Fair Value at December 31, 2013 Using | | | | Quoted Prices in | | | | | | Carrying | | Active Markets for | | Significant Other | | Significant | | Amount at | | Identical Assets | | Observable Inputs | | Unobservable Inputs | | 12/31/2013 | | (Level 1) | | (Level 2) | | (Level 3) | Description | | | | | | | | Available-for-sale securities | | | | | | | | Short-term investments (money market funds and accrued income) | $ | 3,402,921 |
| | $ | — |
| | $ | 3,402,921 |
| | $ | — |
| Obligations of U.S. Treasury, U.S. government corporations and agencies | 2,748,850 |
| | — |
| | 2,748,850 |
| | — |
| Mortgage backed securities | 81,112 |
| | — |
| | 81,112 |
| | — |
| Corporate debt securities | 4,469,743 |
| | — |
| | 4,469,743 |
| | — |
| Total available-for-sale securities | $ | 10,702,626 |
| | $ | — |
| | $ | 10,702,626 |
| | $ | — |
|
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