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Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Total sales $ 89,698,527 $ 66,378,306
Cost of Sales 70,123,892 51,074,339
Gross Profit 19,574,635 15,303,967
Operating Expenses:    
Product development costs 220,418
Selling, general and administrative expenses 9,063,969 7,769,090
Operating Income 10,510,666 7,314,459
Other (Income) and Expenses:    
Interest charges 1,056,843 749,021
Loss on disposal of operations 1,160,574
Other (income) expense, net 34,333 123,134
Total Other (Income) and Expenses 1,091,176 2,032,729
Income before Provision for Income Taxes 9,419,490 5,281,730
Provision for Income Taxes:    
Current 1,890,912 543,031
Deferred 548,715 1,124,989
Total Provision for Income Taxes 2,439,627 1,668,020
Net Income $ 6,979,863 $ 3,613,710
Net Income per Common Share - Basic (in dollars per share) $ 2.45 $ 1.29
Net Income per Common Share - Diluted (in dollars per share) $ 2.13 $ 1.14
Weighted Average Shares of Common Stock Outstanding – Basic (in shares) 2,849,239 2,799,706
Weighted Average Shares of Common Stock Outstanding - Diluted (in shares) 3,277,857 3,181,572