Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.5.0.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Jun. 30, 2015
Current assets    
Cash and cash equivalents $ 3,941,899 $ 3,908,974
Accounts and trade notes receivable, net of allowance for doubtful accounts of $160,000 and $134,000, respectively 1,832,597 1,924,517
Inventories, net 2,627,017 2,808,910
Refundable income taxes 62,063 197,764
Deferred income taxes 108,883 109,261
Vendor deposits 803,177
Other current assets 610,631 94,954
Total current assets 9,986,267 9,044,380
Equipment and improvements, net 135,240 188,243
Intangible assets, net 26,644 33,482
Deferred income taxes 12,606 16,667
Total assets 10,160,757 9,282,772
Current liabilities    
Accounts payable and accrued expenses 2,886,708 1,403,583
Accrued employee expenses 961,086 623,671
Deferred income 11,044 20,464
Customer deposits 1,213,079 2,479,508
Total current liabilities 5,071,917 4,527,226
Total liabilities 5,071,917 4,527,226
Commitments and contingencies
Shareholders' equity    
Preferred stock, $1.00 par value; Authorized shares - 200,000; none issued and outstanding
Common stock, $0.025 par value: Authorized shares - 15,000,000; 7,065,500, shares issued, including shares held in treasury 176,638 176,638
Additional paid-in capital 2,095,069 2,095,069
Retained earnings 2,821,071 2,487,777
Treasury stock, 31,768 shares, at cost (3,938) (3,938)
Total shareholders' equity 5,088,840 4,755,546
Total liabilities and shareholders' equity $ 10,160,757 $ 9,282,772