| NOTE G – Marketable Securities |
| |
Marketable
securities as of December 31, 2018 and 2017 were composed of: |
| |
|
2018 |
|
|
2017 |
|
| Certificates
of deposit |
|
$ |
13,151,000 |
|
|
$ |
2,000,000 |
|
| Short
term bond funds |
|
|
14,723,000 |
|
|
|
7,750,000 |
|
| Corporate
bonds and notes |
|
|
8,437,000 |
|
|
|
1,054,000 |
|
| Total
Marketable securities |
|
$ |
36,311,000 |
|
|
$ |
10,804,000 |
|
| |
The Company's marketable
securities are measured at fair value and are accounted for in accordance with ASU 2016-01. Unrealized holding gains and losses
on certificates of deposit and bond mutual funds are recorded in net realized and unrealized loss from investments on the
consolidated statements of income and comprehensive income. Unrealized holding gains and losses, net of the related tax effect,
on corporate bonds and notes are excluded from earnings and are reported as a separate component of stockholders' equity until
realized. Dividend and interest income are recognized when earned. Realized gains and losses are included in earnings and
are derived using the specific identification method for determining the cost of the marketable securities. |
|