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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 1,209,524 $ 706,873
Certificates of deposit 6,076,000 7,063,000
Accounts receivable - Less allowances of $140,000 5,614,022 5,529,307
Inventories, net 5,476,333 6,100,391
Prepaid income taxes 74,186 150,686
Other current assets 835,333 438,222
Total current assets 19,285,398 19,988,479
Property, Plant and Equipment:    
Land and improvements 1,636,749 1,632,299
Buildings and improvements 8,327,006 8,234,182
Production equipment and other 36,363,188 35,627,443
Property, Plant and Equipment, Gross 46,326,943 45,493,924
Less accumulated depreciation 32,536,011 32,235,778
Net property, plant and equipment 13,790,932 13,258,146
Total assets 33,076,330 33,246,625
Current Liabilities:    
Accounts payable 987,976 1,060,231
Accrued wages and salaries 861,953 701,434
Other accrued expenses 304,232 475,973
Unearned revenue and customer deposits 202,625 328,154
Total current liabilities 2,356,786 2,565,792
Deferred income taxes 1,055,084 921,084
Total liabilities 3,411,870 3,486,876
Shareholders' Equity:    
Preferred stock, no par value, 500,000 shares authorized: none outstanding 0 0
Common stock, $1.00 par value, 4,000,000 shares authorized, 1,138,096 shares issued; 966,132 shares outstanding 1,138,096 1,138,096
Additional paid-in capital 447,134 447,134
Retained earnings 32,001,328 32,096,617
Treasury stock, 171,964 shares at cost (3,922,098) (3,922,098)
Total shareholders' equity 29,664,460 29,759,749
Total liabilities and shareholders' equity $ 33,076,330 $ 33,246,625