XML 17 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current Assets:    
Cash and cash equivalents $ 851,331 $ 443,608
Certificates of deposit 5,809,000 6,207,348
Accounts receivable, net 5,961,305 [1] 5,510,770 [1]
Inventories, net 5,282,751 4,880,788
Deferred tax assets 448,191 410,191
Other current assets 435,467 295,521
Total current assets 18,788,045 17,748,226
Property, Plant and Equipment:    
Land 923,587 923,587
Land improvements 323,333 314,563
Buildings and improvements 6,462,384 6,438,022
Production equipment and other 32,941,122 31,806,103
Property, Plant and Equipment Gross 40,650,426 39,482,275
Less accumulated depreciation 29,825,757 29,073,155
Net property, plant and equipment 10,824,669 10,409,120
Total assets 29,612,714 28,157,346
Current Liabilities:    
Accounts payable 1,295,116 924,943
Accrued wages and salaries 1,022,952 560,114
Other accrued expenses 553,281 609,846
Unearned revenue and customer deposits 90,968 126,066
Total current liabilities 2,962,317 2,220,969
Deferred income taxes 1,009,275 1,065,275
Total liabilities 3,971,592 3,286,244
Shareholders' Equity:    
Preferred stock 0 [2] 0 [2]
Common stock 1,138,096 [3] 1,138,096 [3]
Additional paid-in capital 447,134 447,134
Retained earnings 27,977,990 27,207,970
Less: Treasury stock 3,922,098 [4] 3,922,098 [4]
Total shareholders' equity 25,641,122 24,871,102
Total liabilities and shareholders' equity $ 29,612,714 $ 28,157,346
[1] Net of allowance of $150,000.
[2] No par value, 500,000 shares authorized, none outstanding.
[3] $1.00 par value, 4,000,000 shares authorized, 1,138,096 shares issued, 966,132 shares outstanding.
[4] At cost, 171,964 shares.