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2 - Balance Sheet Details

12 Months Ended

Dec. 31, 2019

2 - Balance Sheet Details

2-Balance Sheet Details

	December 31, 2019	December 31, 2018
Inventories:
Raw materials	$ 2,337,278	$ 2,798,918
Work in process	1,201,099	1,878,977
Finished goods	1,869,800	2,001,496
	5,408,177	6,679,391
Valuation reserves	(457,000)	(579,000)
	$ 4,951,177	$ 6,100,391

	December 31, 2019	December 31, 2018
Property, Plant and Equipment, net:
Land and improvements	$ 1,636,749	$ 1,632,299
Buildings and improvements	8,331,804	8,292,749
Machinery and equipment	35,037,010	34,196,661
Capitalized software and other	1,371,736	1,372,215
	46,377,299	45,493,924
Accumulated depreciation	(32,703,246)	(32,235,778)
	$ 13,674,053	$ 13,258,146

	December 31, 2019	December 31, 2018
Other Accrued Expenses:
Profit sharing plan contribution	$ 175,000	$ 277,743
Property taxes	83,475	91,527
All other items	90,594	106,703
	$ 349,069	$ 475,973

	December 31, 2019	December 31, 2018
Allowance for Doubtful Accounts:
Balance at beginning of year………………………….	$ 140,000	$ 140,000
Charges to statement of income……………………...	4,895	0
Write-offs………………………………………………...	(4,895)	0
Balance at end of year…………………………………	$ 140,000	$ 140,000

	December 31, 2019	December 31, 2018
Inventory Valuation Reserves:
Balance at beginning of year………………………….	$ 579,000	$ 564,000
Charges to statement of income……………………...	(15,477)	17,870
Write-offs………………………………………………...	(106,523)	(2,870)
Balance at end of year…………………………………	$ 457,000	$ 579,000