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Consolidated Balance Sheets (USD $)
May 31, 2013
Jun. 01, 2012
CURRENT ASSETS    
Cash and cash equivalents $ 757,111 $ 1,893,816
Receivables:    
Trade accounts 10,363,221 10,349,946
Other 166,485 286,127
Receivables, gross 10,529,706 10,636,073
Less: Allowance for doubtful accounts 70,000 70,000
Receivables, net 10,459,706 10,566,073
Inventories:    
Raw materials 1,872,541 1,693,629
Finished goods 3,083,272 3,463,169
Inventories, net 4,955,813 5,156,798
Prepaid expenses 1,554,737 1,754,874
Accrued income taxes   59,894
Deferred income taxes 596,267 615,182
Total current assets 18,323,634 20,046,637
PROPERTY, PLANT AND EQUIPMENT    
Land 2,769,499 2,769,499
Buildings 18,793,928 18,323,373
Machinery and equipment 64,749,661 61,247,920
Transportation equipment 6,709,355 6,944,931
Property, plant and equipment, gross 93,022,443 89,285,723
Less: Accumulated depreciation 65,927,389 62,788,133
Property, plant and equipment, net 27,095,054 26,497,590
OTHER ASSETS    
Cash surrender value of life insurance 695,761 758,667
Other 1,642,030 1,450,732
Total other assets 2,337,791 2,209,399
TOTAL 47,756,479 48,753,626
CURRENT LIABILITIES    
Checks outstanding in excess of bank balances 1,442,915 1,710,417
Accounts payable 4,809,066 6,025,465
Current portion of long-term debt 392,850 357,921
Line of credit outstanding 1,725,289 1,293,698
Accrued income tax 53,475  
Other accrued expenses 5,427,017 4,472,079
Salary continuation plan 196,649 181,578
Total current liabilities 14,047,261 14,041,158
LONG-TERM LIABILITIES    
Note payable-bank, non-current 5,314,213 5,707,062
Salary continuation plan 1,032,810 1,097,655
Deferred income taxes 3,304,451 3,509,305
Total long-term liabilities 9,651,474 10,314,022
STOCKHOLDERS' EQUITY    
Common stock - $.66 2/3 par value: Authorized 35,000,000 shares; issued 13,828,793 shares 9,219,195 9,219,195
Additional paid-in capital 6,497,954 6,497,954
Retained earnings 19,273,214 19,607,056
Treasury shares -at cost (2,096,161 shares in 2013, 2,094,161 shares in 2012) (10,932,619) (10,925,759)
Total stockholders' equity 24,057,744 24,398,446
TOTAL $ 47,756,479 $ 48,753,626