XML 24 R12.htm IDEA: XBRL DOCUMENT v3.21.1
Property and Equipment
 12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

Note 6. PROPERTY AND EQUIPMENT

 

The components of property and equipment at December 31, consisted of the following:

 

   December 31,   December 31, 
   2020   2019 
         
Land  $300,000   $300,000 
Buildings and Improvements   1,683,000    1,650,000 
Machinery and Equipment   21,686,000    18,450,000 
Finance Lease Machinery and Equipment   78,000    296,000 
Tools and Instruments   12,116,000    11,021,000 
Automotive Equipment   200,000    177,000 
Furniture and Fixtures   290,000    290,000 
Leasehold Improvements   855,000    530,000 
Computers and Software   436,000    425,000 
Total Property and Equipment   37,644,000    33,139,000 
Less: Accumulated Depreciation   (28,063,000)   (25,561,000)
Property and Equipment, net  $9,581,000   $7,578,000 

 

Depreciation expense for the years ended December 31, 2020 and 2019 was approximately $2,570,000 and $3,002,000, respectively. Assets held under finance lease obligations are depreciated over the shorter of their related lease terms or their estimated productive lives. Depreciation of assets under finance leases is included in depreciation expense for 2020 and 2019. Accumulated depreciation on these assets was approximately $28,000 and $289,000 as of December 31, 2020 and 2019, respectively.