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Note 7 - Other Comprehensive Income | 6 Months Ended
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Jun. 30, 2020
Notes to Financial Statements |
Comprehensive Income (Loss) Note [Text Block] | Note 7 - Other Comprehensive Income In the six months ended June 30, 2020, the Company incurred other comprehensive loss of approximately $1,297,000 from foreign currency translation adjustments. The main contributing factor was a sudden 22% decline in the valuation of the Mexican peso related to the COVID- 19 pandemic discussed above and resulting large-scale, rapid impacts to the world economy. The following table sets forth the accumulated balance of other comprehensive income and each component.
|  | Foreign Currency Items |  |  | Total Accumulated Other Comprehensive Income |
Beginning balance as of January 1, 2020 |  | $ | (5,348,812 | ) |  | $ | (5,348,812 | )
Current period change, net of tax |  |  | (1,297,176 | ) |  |  | (1,297,176 | )
Ending Balance as of June 30, 2020 |  | $ | (6,645,988 | ) |  | $ | (6,645,988 | )

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