XML 16 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 1,309,112 $ 1,904,445
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 922,347 919,392
Gain from disposal of equipment (1,700) (1,782)
Deferred income taxes (70,000) 100,000
Changes in operating assets and liabilities:    
Accounts receivable (547,573) (457,954)
Inventories (550,424) (266,082)
Other current assets and prepaid income taxes 98,977 183,385
Accounts payable 460,171 354,223
Accrued wages and salaries 199,981 335,212
Other accrued expenses (131,262) 11,179
Unearned revenue and customer deposits (45,282) (194,796)
Net cash provided by operating activities 1,644,347 2,887,222
Cash flows from investing activities:    
Capital expenditures (1,069,559) (1,782,886)
Proceeds from the sale of equipment 1,700 3,122
Proceeds from certificates of deposit 5,320,000 4,731,000
Purchases of certificates of deposit (4,573,000) (4,980,000)
Net cash provided by (used in) investing activities (320,859) (2,028,764)
Cash flows from financing activities:    
Cash dividends paid (917,825) (763,245)
Net cash used in financing activities (917,825) (763,245)
Net increase (decrease) in cash and cash equivalents 405,663 95,213
Cash and cash equivalents at beginning of period 353,475 800,894
Cash and cash equivalents at end of period 759,138 $ 896,107
Supplemental schedule of non-cash investing activities:    
Capital expenditures in accounts payable $ 1,487