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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 3,431,200 $ 1,013,500
Adjustment to reconcile net income to net cash provided (used) by operating activities:    
Depreciation and amortization 591,400 264,900
Stock-based compensation 183,500 189,500
Deferred income taxes 829,200 649,600
Change in operating assets and liabilities:    
Accounts receivable 304,200 (2,774,700)
Inventories (3,842,600) (305,500)
Prepaid expenses and other assets (75,300) (54,200)
Income taxes payable (receivable) 204,300 (13,400)
Accounts payable and accrued expenses 333,600 906,300
Total adjustments to net income (1,471,700) (1,137,500)
Net cash provided (used) by operating activities 1,959,500 (124,000)
Cash flows from investing activities:    
Cash paid for Acquisition   (9,000,000)
Purchase of property and equipment (352,600) (223,600)
Net cash used by investing activities: (352,600) (9,223,600)
Cash flows from financing activities:    
Borrowing under line-of-credit   3,694,100
Repayments under line-of-credit (750,000) (1,794,100)
Proceeds from issuance of long-term debt   2,400,000
Repayments of long-term debt (600,000) (200,000)
Debt issuance costs   (75,200)
Proceeds from exercise of stock options 34,800 30,500
Net cash (used) provided by financing activities: (1,315,200) 4,055,300
Net increase (decrease) in cash and cash equivalents 291,700 (5,292,300)
Cash and cash equivalents, beginning of period 2,097,300 7,165,100
Cash and cash equivalents, end of period 2,389,000 1,872,800
Supplemental disclosures:    
Cash paid during the period for interest 101,500 $ 77,500
Cash paid during the period for income taxes $ 865,700