Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 5,947,200	$ 7,165,100
Trade receivables, net	2,812,800	1,014,700
Inventories, net	5,190,600	4,698,600
Prepaid expenses	359,100	227,200
Total current assets	14,309,700	13,105,600
Property and equipment, net	552,800	430,000
Deferred tax asset	2,038,300	2,556,200
Other assets	51,000	51,000
Total assets	16,951,800	16,142,800
Current liabilities:
Accounts payable	1,712,600	1,238,000
Accrued payroll and benefits	260,700	780,300
Income taxes payable	30,300	5,300
Accrued property taxes	31,400	23,400
Total current liabilities	2,035,000	2,047,000
Total liabilities	2,035,000	2,047,000
Shareholders’ equity:
Common stock; $0.10 par value, authorized 50,000,000 shares; issued and outstanding 11,710,745 shares (2016) and 11,710,745 shares (2015)	1,171,100	1,171,100
Capital in excess of par	5,965,600	5,901,100
Retained earnings	7,780,100	7,023,600
Total shareholders’ equity	14,916,800	14,095,800
Total liabilities and shareholders’ equity	$ 16,951,800	$ 16,142,800

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Name:	us-gaap_AccountsPayableCurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.