XML 22 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Condensed Consolidated Statements of Income    
Net sales $ 9,950,424 $ 9,125,736
Cost of goods sold 7,705,116 7,115,475
Gross profit 2,245,308 2,010,261
Selling and administrative expenses 1,414,052 1,351,814
Operating profit 831,256 658,447
Other income:    
Interest income 6,517 8,485
Gain from disposal of equipment 17,000  
Other income 3,600 3,600
Income before income taxes 858,373 670,532
Provision for income taxes 290,000 217,000
Net income $ 568,373 $ 453,532
Average common shares outstanding 966,132 966,132
Earnings per share $ 0.59 $ 0.47
Cash dividends declared per share $ 0.58 $ 0.15