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Segment Reporting: Schedule of Segment Reporting, by Segment (Tables)

6 Months Ended

Jun. 30, 2020

Tables/Schedules

Schedule of Segment Reporting, by Segment

	Fastener	Assembly Equipment	Other	Consolidated
Three Months Ended June 30, 2020:
Net sales	$ 3,513,742	$ 589,778	0	$ 4,103,520
Depreciation	297,534	32,869	8,378	338,781
Segment operating profit (loss)	(653,510)	31,010	0	(622,500)
Selling and administrative expenses	0	0	(503,340)	(503,340)
Interest income	0	0	25,324	25,324
Income (loss) before income taxes				$ (1,100,516)
Capital expenditures	29,545	0	57,810	87,355
Segment assets:
Accounts receivable, net	3,327,037	230,600	0	3,557,637
Inventories, net	3,782,622	963,164	0	4,745,786
Property, plant and equipment, net	10,651,338	1,621,026	980,904	13,253,268
Other assets	0	0	8,859,829	8,859,829
				$ 30,416,520
Three Months Ended June 30, 2019:
Net sales	$ 7,816,704	$ 1,058,747	0	$ 8,875,451
Depreciation	305,082	31,453	9,743	346,278
Segment operating profit	487,305	315,802	0	803,107
Selling and administrative expenses	0	0	(548,052)	(548,052)
Interest income	0	0	35,504	35,504
Income before income taxes				$ 290,559
Capital expenditures	284,573	102,324	0	386,897
Segment assets:
Accounts receivable, net	5,426,139	361,216	0	5,787,355
Inventories, net	4,996,608	1,102,215	0	6,098,823
Property, plant and equipment, net	11,164,067	1,745,444	958,997	13,868,508
Other assets	0	0	7,002,868	7,002,868
				$ 32,757,554
Six Months Ended June 30, 2020:
Net sales	$ 10,251,139	$ 1,428,836	0	$ 11,679,975
Depreciation	593,644	65,738	16,755	676,137
Segment operating profit (loss)	(249,492)	215,581	0	(33,911)
Selling and administrative expenses	0	0	(1,054,236)	(1,054,236)
Interest income	0	0	59,199	59,199
Income (loss) before income taxes				$ (1,028,948)
Capital expenditures	197,542	0	57,810	255,352
Six Months Ended June 30, 2019:
Net sales	$ 15,395,824	$ 2,101,305	0	$ 17,497,129
Depreciation	602,805	60,377	19,485	682,667
Segment operating profit	1,076,200	651,876	0	1,728,076
Selling and administrative expenses	0	0	(1,141,454)	(1,141,454)
Interest income	0	0	71,779	71,779
Income before income taxes				$ 658,401
Capital expenditures	1,040,680	226,324	26,025	1,293,029

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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=120311839&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: 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=120311839&loc=d3e8906-108599

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