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Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current Assets:    
Cash and cash equivalents $ 800,894 $ 231,252
Certificates of deposit 6,565,000 6,058,000
Accounts receivable, net [1] 5,438,332 5,669,654
Inventories, net 4,538,212 5,162,474
Deferred income taxes 425,191 446,191
Prepaid income taxes 273,112 173,656
Other current assets 383,953 348,413
Total current assets 18,424,694 18,089,640
Property, plant and equipment, net 11,698,443 10,877,995
Total assets 30,123,137 28,967,635
Current Liabilities:    
Accounts payable 768,111 923,819
Accrued wages and salaries 611,484 605,029
Other accrued expenses 465,662 520,723
Unearned revenue and customer deposits 467,189 69,866
Total current liabilities 2,312,446 2,119,437
Deferred income taxes 1,319,275 1,107,275
Total liabilities 3,631,721 3,226,712
Shareholders' Equity:    
Preferred stock [2] 0 0
Common stock [3] 1,138,096 1,138,096
Additional paid-in capital 447,134 447,134
Retained earnings 28,828,284 28,077,791
Less: Treasury stock [4] 3,922,098 3,922,098
Total shareholders' equity 26,491,416 25,740,923
Total liabilities and shareholders' equity $ 30,123,137 $ 28,967,635
[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.