XML 18 R7.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net Income $ 516,401 $ 1,410,880
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 682,667 653,537
Gain on disposal of equipment (5,000) (17,485)
Deferred income taxes 78,000 (27,000)
Changes in operating assets and liabilities:    
Accounts receivable (258,048) (1,580,776)
Inventories 1,568 (922,121)
Other current assets and prepaid income taxes 72,115 111,554
Accounts payable (265,603) 779,782
Accrued wages and salaries 261,219 246,972
Other accrued expenses (195,368) 137,353
Unearned revenue and customer deposits (178,075) (91,205)
Net cash provided by operating activities 709,876 701,491
Cash flows from investing activities:    
Capital expenditures (1,283,736) (635,718)
Proceeds from the sale of equipment 5,000 17,485
Proceeds from certificates of deposit 4,324,000 1,992,000
Purchases of certificates of deposit (2,839,000) (1,245,000)
Net cash provided by investing activities 206,264 128,767
Cash flows from financing activities:    
Cash dividends paid (714,938) (695,615)
Net cash used in financing activities (714,938) (695,615)
Net increase in cash and cash equivalents 201,202 134,643
Cash and cash equivalents at beginning of period 706,873 1,152,569
Cash and cash equivalents at end of period 908,075 1,287,212
Supplemental schedule of non-cash investing activities:    
Capital expenditures in accounts payable $ 9,293 $ 0