XML 16 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 1,698,629 $ 1,309,112
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 973,182 922,347
Gain on disposal of equipment (26,135) (1,700)
Deferred income taxes 118,000 (70,000)
Changes in operating assets and liabilities:    
Accounts receivable (1,175,724) (547,573)
Inventories (726,233) (550,424)
Other current assets and prepaid income taxes (106,338) 98,977
Accounts payable 460,603 460,171
Accrued wages and salaries 221,074 199,981
Other accrued expenses (54,780) (131,262)
Unearned revenue and customer deposits 61,073 (45,282)
Net cash provided by operating activities 1,443,351 1,644,347
Cash flows from investing activities:    
Capital expenditures 1,635,189 1,069,559
Proceeds from the sale of equipment 26,135 1,700
Proceeds from certificates of deposit 3,735,000 5,320,000
Purchases of certificates of deposit 2,739,000 4,573,000
Net cash used in investing activities (613,054) (320,859)
Cash flows from financing activities:    
Cash dividends paid 898,503 917,825
Net cash used in financing activities (898,503) (917,825)
Net increase (decrease) in cash and cash equivalents (68,206) 405,663
Cash and cash equivalents at beginning of period 1,152,569 353,475
Cash and cash equivalents at end of period 1,084,363 759,138
Supplemental schedule of non-cash investing activities:    
Capital expenditures in accounts payable $ 7,265 $ 1,487