XML 19 R2.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 1,247,627 $ 1,494,415
Accounts receivable less allowance for doubtful accounts 21,884,807 18,387,744
Contract assets 3,284,301 2,111,057
Inventory less allowance for obsolete inventory 20,176,142 16,585,437
Investments 657,971 1,518,244
Refundable tax asset 0 1,316,595
Prepaid expenses and other current assets 1,522,516 1,112,068
Total Current Assets 48,773,364 42,525,560
Property, plant and equipment, net 15,213,443 15,609,202
Operating right of use assets, net 9,524,280 8,998,776
OTHER ASSETS:    
Goodwill 16,231,938 14,404,618
Intangibles, net of accumulated amortization 9,492,560 9,336,564
Other non-current assets 362,489 88,591
Total Non-Current Other Assets 26,086,987 23,829,773
Total Assets 99,598,074 90,963,311
CURRENT LIABILITIES:    
Notes payable - current 1,303,972 2,946,885
Bank debt - current 222,222 1,444,444
Leases payable 1,705,224 1,241,681
Accounts payable 14,017,973 11,460,364
Unearned revenue 4,354,868 2,881,535
Contingent liability – short term 0 750,000
Accrued income taxes 1,239,289 0
Accrued expenses 3,224,188 3,136,690
Total Current Liabilities 26,067,736 23,861,599
LONG-TERM LIABILITIES:    
Bank debt 19,224,318 16,175,436
Leases payable 8,060,152 7,985,628
Contingent liability – long term 0 750,000
Deferred income taxes 1,384,558 3,275,370
Total Long-Term Liabilities 30,515,433 32,461,811
STOCKHOLDERS' EQUITY    
Contributed capital 1,741,901 1,741,901
Treasury shares, at cost (2,125,252) (1,981,113)
Retained earnings 34,581,171 28,019,768
Total Stockholders' Equity 43,014,905 34,639,901
Total Liabilities and Stockholders' Equity 99,598,074 90,963,311
Common Class A [Member]    
STOCKHOLDERS' EQUITY    
Common stock 7,351,563 5,393,823
Common Class B [Member]    
STOCKHOLDERS' EQUITY    
Common stock 1,465,522 1,465,522
Notes Payable Excluding Paycheck Protection Program Cares Act [Member]    
LONG-TERM LIABILITIES:    
Notes Payable, Noncurrent $ 1,846,405 $ 4,275,377