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Property and Equipment
 12 Months Ended
Dec. 31, 2021
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, 
   2021   2020 
         
Land  $300,000   $300,000 
Buildings and Improvements   1,723,000    1,683,000 
Machinery and Equipment   22,013,000    21,738,000 
Finance Lease Machinery and Equipment   375,000    78,000 
Tools and Instruments   12,866,000    12,116,000 
Automotive Equipment   200,000    148,000 
Furniture and Fixtures   290,000    290,000 
Leasehold Improvements   882,000    855,000 
Computers and Software   583,000    436,000 
Total Property and Equipment   39,232,000    37,644,000 
Less: Accumulated Depreciation   (30,828,000)   (28,063,000)
Property and Equipment, net  $8,404,000   $9,581,000 

 

Depreciation expense for the years ended December 31, 2021 and 2020 was approximately $2,803,000 and $2,570,000, 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 2021 and 2020. Accumulated depreciation on these assets was approximately $36,000 and $28,000 as of December 31, 2021 and 2020, respectively.