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6 - Segment Information: Schedule of Segment Reporting Information (Tables)

12 Months Ended

Dec. 31, 2019

Tables/Schedules

Schedule of Segment Reporting Information

	Fastener	Assembly Equipment	Other	Consolidated
Year Ended December 31, 2019:
Net Sales………………………………………	$      28,989,667	$      3,883,335	$                  0	$        32,873,002
Depreciation……………………………………...	1,217,174	126,430	38,631	1,382,235
Segment operating profit………………………	1,762,835	1,083,548	0	2,846,383
Selling and administrative expenses…………..	0	0	(2,354,799)	(2,354,799)
Other income……………………………………..	0	0	191,730	191,730
Income before income taxes……………………				683,314
Capital expenditures…………………………….	1,522,541	233,697	46,676	1,802,914
Segment assets:
Accounts receivable, net……………………...	4,313,185	296,129	0	4,609,314
Inventories, net………………………………...	3,985,883	965,294	0	4,951,177
Property, plant and equipment, net………….	11,047,439	1,686,764	939,850	13,674,053
Other assets……………………………………	0	0	8,488,832	8,488,832
				31,723,376
Year Ended December 31, 2018:
Net Sales………………………………………	$      33,712,458	$      3,461,791	$                  0	$        37,174,249
Depreciation……………………………………...	1,161,082	112,942	34,424	1,308,448
Segment operating profit………………………	3,731,998	1,108,248	0	4,840,246
Selling and administrative expenses…………..	0	0	(2,437,598)	(2,437,598)
Other income……………………………………..	0	0	153,537	153,537
Income before income taxes……………………				2,556,185
Capital expenditures…………………………….	1,635,115	49,884	338,191	2,023,190
Segment assets:
Accounts receivable, net……………………...	5,196,437	332,870	0	5,529,307
Inventories, net………………………………...	5,075,290	1,025,101	0	6,100,391
Property, plant and equipment, net………….	10,726,191	1,579,497	952,458	13,258,146
Other assets……………………………………	0	0	8,358,781	8,358,781
				33,246,625

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 21
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-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599

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- References

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