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Note 9 - Property and Equipment
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

Note 9 – Property and Equipment

 

The following table summarizes the book value of our assets and accumulated depreciation:

 

   

December 31,

    

December 31,

  
   

2021

    

2020

  

Land

   $ 472,492     $ 472,492  

Buildings and improvements

     4,030,563       1,027,631  

Furniture and fixtures

     647,207       599,901  

Construction in progress

     -       1,648,640  

Accumulated depreciation

     (696,117 )     (555,285 )

Total property and equipment, net

   $ 4,454,145     $ 3,193,379  

 

We own our corporate headquarters in Goose Creek, SC. Construction in progress consists primarily of capitalized costs related to an addition to our headquarters. Excess capacity is leased to unrelated third parties. Gross rental income was approximately $109,000 and $95,000 during the years ended December 31, 2021 and December 31, 2020, respectively, and is reflected on the line item, "Other miscellaneous income," in our consolidated statement of income.

 

Depreciation expense related to property and equipment totaled approximately $141,000 and $129,000 during the years ended  December 31, 2021 and December 31, 2020, respectively.