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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash and cash equivalents $ 3,407,140 $ 4,616,694
Trade receivables – net 44,549,207 55,807,103
Other receivables 583,479 476,480
Inventories 76,991,059 85,237,042
Income tax receivable 128,699  
Deferred income taxes 1,031,818 1,291,907
Prepaid expenses 2,530,517 2,553,442
Total current assets 129,221,919 149,982,668
FIXED ASSETS – net 27,836,527 26,264,641
IDENTIFIED INTANGIBLES 36,547,873 36,681,644
OTHER ASSETS 258,812 299,490
TOTAL ASSETS 193,865,131 213,228,443
CURRENT LIABILITIES:    
Accounts payable 9,118,555 15,116,131
Accrued expenses:    
Salaries and wages 442,259 1,773,061
Taxes - other 533,220 532,470
Accrued freight 427,412 683,482
Commissions 378,191 681,185
Accrued duty 2,301,449 2,693,223
Income taxes payable   2,687,535
Other 1,547,130 1,042,653
Total current liabilities 14,748,216 25,209,740
LONG TERM DEBT 23,700,089 36,270,373
DEFERRED LIABILITIES:    
Deferred income taxes 13,000,609 12,928,048
Other deferred liabilities 295,676 472,364
TOTAL LIABILITIES 51,744,590 74,880,525
SHAREHOLDERS' EQUITY:    
Common stock, no par value; 25,000,000 shares authorized; outstanding; 2015 - 7,567,271 and 2014 - 7,550,126; and additional paid-in capital 70,882,392 70,460,672
Retained earnings 71,238,149 67,887,246
Total shareholders' equity 142,120,541 138,347,918
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 193,865,131 $ 213,228,443