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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 1,315,417 $ 2,036,954
Certificates of deposit 2,741,000 2,741,000
Accounts receivable - Less allowances of $162,000 and $170,000, respectively 6,638,411 5,647,984
Inventories, net 9,613,240 8,519,780
Prepaid income taxes 0 440
Other current assets 384,198 346,236
Total current assets 20,692,266 19,292,394
Property, Plant and Equipment    
Land and improvements 1,778,819 1,778,819
Buildings and improvements 8,456,983 8,456,983
Production equipment and other 36,799,708 36,679,114
Property, Plant and Equipment, Gross 47,035,510 46,914,916
Less accumulated depreciation 34,761,476 34,441,052
Net property, plant and equipment 12,274,034 12,473,864
Total assets 32,966,300 31,766,258
Current Liabilities    
Accounts payable 1,446,827 692,635
Accrued wages and salaries 706,397 509,332
Other accrued expenses 273,269 366,418
Unearned revenue and customer deposits 287,034 302,424
Federal and state income taxes 146,560 0
Total current liabilities 2,860,087 1,870,809
Deferred income taxes 902,084 926,084
Total liabilities 3,762,171 2,796,893
Shareholders' Equity    
Preferred stock, no par value, 500,000 shares authorized: none outstanding 0 0
Common stock, $1.00 par value, 4,000,000 shares authorized, 1,138,096 shares issued; 966,132 shares outstanding 1,138,096 1,138,096
Additional paid-in capital 447,134 447,134
Retained earnings 31,540,997 31,306,233
Treasury stock, 171,964 shares at cost (3,922,098) (3,922,098)
Total shareholders' equity 29,204,129 28,969,365
Total liabilities and shareholders' equity $ 32,966,300 $ 31,766,258