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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net Income $ 447,313 $ 540,128
Adjustments to reconcile net income to net cash used in operating activities    
Depreciation 320,424 330,165
Loss on disposal of equipment 0 16,081
Deferred income taxes (24,000) (31,000)
Changes in operating assets and liabilities    
Accounts receivable (990,427) (1,706,441)
Inventories (1,093,460) (1,158,666)
Other current assets (37,522) 84,901
Accounts payable 754,192 668,880
Accrued wages and salaries 197,065 204,563
Other accrued expenses 53,411 189,160
Unearned revenue and customer deposits (15,390) (43,724)
Net cash used in operating activities (388,394) (905,953)
Cash flows from investing activities    
Capital expenditures (120,594) (116,463)
Proceeds from certificates of deposit 0 1,743,000
Net cash (used in) provided by investing activities (120,594) 1,626,537
Cash flows from financing activities    
Cash dividends paid (212,549) (212,549)
Net cash used in financing activities (212,549) (212,549)
Net (decrease) increase in cash and cash equivalents (721,537) 508,035
Cash and cash equivalents at beginning of period 2,036,954 2,567,731
Cash and cash equivalents at end of period $ 1,315,417 $ 3,075,766