| Schedule of components of income tax expense (benefit) [Table Text Block] |
| |
|
2021 |
|
|
2020 |
|
| Current |
|
|
|
|
|
|
| Federal |
$ |
3,057,420 |
|
$ |
1,140,900 |
|
| State |
|
676,428 |
|
|
556,333 |
|
| |
|
3,733,848 |
|
|
1,697,233 |
|
| Deferred |
|
|
|
|
|
|
| Federal |
|
307,300 |
|
|
(78,700 |
) |
| |
|
|
|
|
|
|
| Income tax expense |
$ |
4,041,148 |
|
$ |
1,618,533 |
|
|
| Schedule of deferred tax assets and liabilities [Table Text Block] |
| |
|
2021 |
|
|
2020 |
|
| Deferred tax assets: |
|
|
|
|
|
|
| Accounts receivable |
$ |
72,900 |
|
$ |
25,500 |
|
| Inventory |
|
29,000 |
|
|
29,100 |
|
| Payroll differences |
|
105,500 |
|
|
95,000 |
|
| Net operating loss carryforwards |
|
1,023,000 |
|
|
1,023,000 |
|
| Less valuation allowance |
|
(1,023,000 |
) |
|
(1,023,000 |
) |
| Deferred tax assets, net |
$ |
207,400 |
|
$ |
149,600 |
|
| Deferred tax liabilites: |
|
|
|
|
|
|
| Depreciation |
|
(436,000 |
) |
|
(70,900 |
) |
| Deferred tax assets (liabilities), net |
$ |
(228,600 |
) |
$ |
78,700 |
|
|