Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Jun. 30, 2016
Current assets    
Cash and cash equivalents $ 1,456,492 $ 3,941,899
Accounts receivable, net of allowance for doubtful accounts of $145,000 and $160,000, respectively 5,078,654 1,832,597
Inventories, net 2,399,283 2,627,017
Vendor deposits 386,332 803,177
Deferred income taxes 96,752 108,883
Refundable income tax 62,063
Other current assets 162,356 610,631
Total current assets 9,579,869 9,986,267
Equipment and improvements, net 123,731 135,240
Intangible assets, net 24,939 26,644
Deferred income taxes 16,000 12,606
Total assets 9,744,539 10,160,757
Current liabilities    
Accounts payable and accrued expenses 2,561,520 2,886,708
Accrued employee expenses 394,062 961,086
Income taxes payable 140,405
Deferred income 26,276 11,044
Customer deposits 1,181,492 1,213,079
Total current liabilities 4,303,755 5,071,917
Total liabilities 4,303,755 5,071,917
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 3,173,015 2,821,071
Treasury stock, 31,768 shares at cost (3,938) (3,938)
Total shareholders' equity 5,440,784 5,088,840
Total liabilities and shareholders' equity $ 9,744,539 $ 10,160,757