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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 908,075 $ 706,873
Certificates of deposit 5,578,000 7,063,000
Accounts receivable - Less allowances of $140,000 5,787,355 5,529,307
Inventories, net 6,098,823 6,100,391
Prepaid income taxes 117,186 150,686
Other current assets 399,607 438,222
Total current assets 18,889,046 19,988,479
Property, Plant and Equipment:    
Land and improvements 1,636,749 1,632,299
Buildings and improvements 8,327,006 8,234,182
Production equipment and other 36,455,435 35,627,443
Property, Plant and Equipment, Gross 46,419,190 45,493,924
Less accumulated depreciation 32,550,682 32,235,778
Net property, plant and equipment 13,868,508 13,258,146
Total assets 32,757,554 33,246,625
Current Liabilities:    
Accounts payable 803,921 1,060,231
Accrued wages and salaries 962,653 701,434
Other accrued expenses 280,605 475,973
Unearned revenue and customer deposits 150,079 328,154
Total current liabilities 2,197,258 2,565,792
Deferred income taxes 999,084 921,084
Total liabilities 3,196,342 3,486,876
Shareholders' Equity:    
Preferred stock, no par value, 500,000 shares authorized: none outstanding 0 0
Common stock, $1.00 par value, 4,000,000 shares authorized, 1,138,096 shares issued; 966,132 shares outstanding 1,138,096 1,138,096
Additional paid-in capital 447,134 447,134
Retained earnings 31,898,080 32,096,617
Treasury stock, 171,964 shares at cost (3,922,098) (3,922,098)
Total shareholders' equity 29,561,212 29,759,749
Total liabilities and shareholders' equity $ 32,757,554 $ 33,246,625