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STATEMENTS OF SHAREHOLDERS’ EQUITY (USD $)
Common Stock
Treasury Stock
Retained Earnings
Total
Beginning Balance, amount at Dec. 31, 2011 $ 8,632,746 $ 0 $ 7,800,934 $ 16,433,680
Beginning Balance, shares at Dec. 31, 2011 4,892,977      
Stock based compensation expense 18,000       18,000
Common stock issued and options exercised, shares 2,000      
Common stock issued and options exercised, amount 6,180       6,180
Treasury stock purchased, shares (90,269)      
Treasury stock purchased, amount    (319,215)    (319,215)
Net income       1,202,849 1,202,849
Ending Balance, amount at Dec. 31, 2012 8,656,926 (319,215) 9,003,783 17,341,494
Ending Balance, shares at Dec. 31, 2012 4,804,708      
Stock based compensation expense 22,839       22,839
Common stock issued and options exercised, shares 51,000      
Common stock issued and options exercised, amount 177,320       177,320
Treasury stock purchased, shares (23,149)      
Treasury stock purchased, amount    (105,887)    (105,887)
Net income       1,423,492 1,423,492
Ending Balance, amount at Dec. 31, 2013 $ 8,857,085 $ (425,102) $ 10,427,275 $ 18,859,258
Ending Balance, shares at Dec. 31, 2013 4,832,559