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Condensed Consolidated Balance Sheets (USD $)
Nov. 29, 2013
May 31, 2013
CURRENT ASSETS    
Cash and cash equivalents $ 1,340,382 $ 757,111
Receivables, net 10,954,908 10,459,706
Inventories:    
Raw materials and supplies 1,957,675 1,872,541
Finished goods 3,793,344 3,083,272
Inventories, net 5,751,019 4,955,813
Prepaid expenses 2,276,859 1,554,737
Deferred income taxes 596,267 596,267
Total current assets 20,919,435 18,323,634
Property, plant and equipment, net 26,262,950 27,095,054
Other assets 1,998,325 2,337,791
Total 49,180,710 47,756,479
CURRENT LIABILITIES    
Checks outstanding in excess of bank balances 1,769,131 1,442,915
Accounts payable 6,484,731 4,809,066
Accrued income taxes 444,369 53,475
Current portion of long-term debt 392,402 392,850
Other accrued expenses 4,630,596 5,427,017
Salary continuation plan 204,647 196,649
Line of credit outstanding 1,726,937 1,725,289
Total current liabilities 15,652,813 14,047,261
LONG-TERM LIABILITIES    
Notes payable - bank, non-current 5,131,123 5,314,213
Salary continuation plan 970,146 1,032,810
Deferred income taxes 3,304,451 3,304,451
Total long-term liabilities 9,405,720 9,651,474
STOCKHOLDER'S EQUITY    
Common stock - $.66-2/3 par value: 35,000,000 shares authorized Issued 13,828,793 shares 9,219,195 9,219,195
Additional paid-in capital 6,497,954 6,497,954
Retained earnings 19,337,647 19,273,214
Stockholder's equity before treasury stock 35,054,796 34,990,363
Less: Cost of common shares in treasury (2,096,161 shares at November 29, 2013 and 2,094,161 shares at May 31, 2013) (10,932,619) (10,932,619)
Total stockholder's equity 24,122,177 24,057,744
Total $ 49,180,710 $ 47,756,479