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

3 Months Ended

Mar. 31, 2021

Tables/Schedules

Schedule of Segment Reporting by Segment

	Fastener	Assembly Equipment	Other	Consolidated
Three Months Ended March 31, 2021:
Net sales	$8,148,678	$1,156,271	0	$9,304,949
Depreciation	291,183	33,533	5,449	330,165
Segment operating profit	927,158	296,700	0	1,223,858
Selling and administrative expenses	0	0	(543,772)	(543,772)
Interest income	0	0	10,042	10,042
Income before income taxes				$690,128
Capital expenditures	104,524	0	11,939	116,463
Segment assets:
Accounts receivable, net	6,222,588	647,303	0	6,869,891
Inventories, net	5,055,332	1,256,628	0	6,311,960
Property, plant and equipment, net	10,276,980	1,535,329	1,108,792	12,921,101
Other assets	0	0	6,450,577	6,450,577
				$32,553,529
Three Months Ended March 31, 2020:
Net sales	$6,737,397	$839,058	0	$7,576,455
Depreciation	296,110	32,869	8,377	337,356
Segment operating profit	404,018	184,571	0	588,589
Selling and administrative expenses	0	0	(550,896)	(550,896)
Interest income	0	0	33,875	33,875
Income before income taxes				$71,568
Capital expenditures	167,997	0	0	167,997
Segment assets:
Accounts receivable, net	5,106,941	396,742	0	5,503,683
Inventories, net	4,195,183	983,198	0	5,178,381
Property, plant and equipment, net	10,919,327	1,653,895	931,472	13,504,694
Other assets	0	0	7,619,802	7,619,802
				$31,806,560

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 50
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