| | | | |
| | | | |
| Account Description | 2013 | 2014 | 2015 | |
| Cash on Hand | $ 2,484 | $ 2,548 | $ 2,599 | |
| Regular Checking Account |
247,646 |
253,960 |
243,802 | |
| Savings Account |
3,806,198 |
4,083,071 |
4,205,563 | |
| Accounts Receivable |
20,513,628 |
57,697,091 |
49,042,528 | |
| Other Receivables |
– |
1,400,000 |
1,200,000 | |
| Allowance for Doubtful
Accounts |
(1,578,525) |
(1,387,691) |
(2,942,552) | |
| Inventory |
23,531,507 |
75,851,471 |
65,990,780 | |
| Reserve for Inventory
Obsolescence |
(3,765,000) |
(12,136,103) |
(10,558,525) | |
| Prepaid Insurance |
929,143 |
2,830,474 |
2,667,722 | |
| Prepaid Rent |
250,000 |
– |
– | |
| Office Supplies |
9,259 |
9,565 |
9,182 | |
| Land |
146,250 |
131,040 |
131,040 | |
| Buildings and Land
Improvements |
779,882 |
698,775 |
833,775 | |
| Machinery, Equipment, Office
Furniture |
541,521 |
3,280,589 |
3,280,589 | |
| Accum. Depreciation |
(205,000) |
(764,692) |
(1,381,847) | |
| Investments |
715,864 |
2,238,634 |
2,070,736 | |
| Other Noncurrent Assets |
67,301 |
– |
– | |
| Taxes Receivable/payable |
– |
(3,205,440) |
(6,011,540) | |
| Accounts Payable |
(5,791,398) |
(22,488,866) |
(13,850,648) | |
| Wages Payable |
(36,838) |
(264,513) |
(198,384) | |
| FICA Employee Withholding |
(1,648) |
(9,452) |
(7,089) | |
| Medicare Withholding |
(730) |
(12,785) |
(9,589) | |
| Federal Payroll Taxes Payable |
(7,541) |
(132,256) |
(99,192) | |
| State Payroll Taxes Payable |
(3,519) |
(61,720) |
(46,290) | |
| FICA Employer Withholding |
(1,648) |
(9,452) |
(7,089) | |
| Medicare Employer Withholding |
(730) |
(12,785) |
(9,589) | |
| Line of Credit |
(12,500,000) |
(49,731,360) |
(44,177,211) | |
| Current Portion Long-Term Debt |
– |
(13,440,000) |
(12,084,720) | |
| Interest payable |
– |
(470,311) |
(568,429) | |
| Bonuses payable |
– |
(504,000) |
(459,000) | |
| Dividend payable |
(6,000,000) |
(15,250,000) |
(15,000,000) | |
| Common Stock |
(10,131,250) |
(10,131,250) |
(10,131,250) | |
| Paid-in Capital |
(9,278,750) |
(9,278,750) |
(9,278,750) | |
| Retained Earnings |
(2,773,901) |
(2,238,105) |
(9,185,791) | |
| Dividends |
6,000,000 |
15,250,000 |
15,000,000 | |
| Sales |
(307,716,148) |
(271,839,067) |
(288,876,206) | |
| Sales Returns |
5,621,979 |
12,432,247 |
23,110,096 | |
| Warranty Expense |
1,375,352 |
1,297,104 |
1,444,381 | |
| Income from Investments |
– |
(1,227,199) |
(1,138,905) | |
| Interest Income |
(255,379) |
(147,707) |
(142,168) | |
| | | | |
| Cost of Goods Sold |
176,961,527 |
161,029,981 |
179,103,248 | |
| Freight |
5,378,689 |
4,749,095 |
4,325,068 | |
| Advertising Expense |
1,121,425 |
1,161,276 |
1,057,591 | |
| Auto Expenses |
261,218 |
235,763 |
214,713 | |
| Research and Development |
39,015,418 |
592,335 |
3,080,313 | |
| Depreciation Expense |
166,250 |
581,012 |
617,155 | |
| Warehouse Salaries |
5,791,730 |
5,348,208 |
4,870,689 | |
| Property Tax Expense |
100,619 |
111,252 |
101,319 | |
| Legal and Professional Expense |
4,506,417 |
10,435,113 |
9,503,406 | |
| Bad Debt Expense |
2,028,032 |
5,875,403 |
13,963,800 | |
| Insurance Expense |
1,067,428 |
1,045,085 |
951,774 | |
| Maintenance Expense |
76,420 |
96,220 |
87,629 | |
| Utilities |
169,554 |
170,855 |
155,600 | |
| Phone |
95,467 |
58,911 |
53,651 | |
| Postal |
160,042 |
87,140 |
79,360 | |
| Miscellaneous Office Expense |
21,279 |
27,879 |
25,390 | |
| Payroll Tax Exp |
1,938,736 |
1,767,149 |
1,609,368 | |
| Pension/Profit-Sharing Plan Ex |
3,750,000 |
3,696,000 |
3,366,000 | |
| Rent or Lease Expense |
3,254,357 |
1,351,363 |
2,230,705 | |
| Administrative Wages Expense |
21,094,132 |
18,344,399 |
19,706,506 | |
| Bonus expense |
– |
504,000 |
459,000 | |
| Interest Expense |
1,093,750 |
3,373,056 |
2,842,147 | |
| Income Tax Expense – Federal |
2,956,250 |
14,142,240 |
7,269,540 | |
| Income Tax Expense – State |
536,250 |
2,503,200 |
1,258,000 | |
| Loss on Legal Settlement |
23,965,000 |
– |
– | |
| | | | |
| | | | |
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