v3.25.1

Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 1,269,212	$ 1,875,655
Marketable securities	6,851,997	7,522,625
Accounts receivable, net of allowance for credit losses of $18,114 at March 31, 2025 and $14,342 at December 31, 2024	1,552,079	1,428,455
Inventories (net)	1,503,061	1,451,995
Prepaid expenses and other current assets	244,723	207,804
Prepaid income taxes	270,344	179,017
Total current assets	11,691,416	12,665,551
Deferred income taxes, net	137,006	175,397
Property, plant and equipment:
Land	69,000	69,000
Factory equipment and fixtures	4,746,255	4,743,238
Building and improvements	3,336,943	3,336,352
Total property, plant and equipment	8,152,198	8,148,590
Less: accumulated depreciation	7,217,233	7,192,203
Total property, plant and equipment (net)	934,965	956,387
TOTAL ASSETS	12,763,387	13,797,335
Current liabilities:
Accounts payable	378,250	425,003
Accrued expenses	1,527,736	1,467,933
Dividends payable	21,652	21,533
Total current liabilities	1,927,638	1,914,469
Total liabilities	1,927,638	1,914,469
Commitments and Contingencies
Stockholders’ equity:
Common stock $.10 par value; 10,000,000 shares authorized; 4,594,319 shares issued and outstanding at March 31, 2025 and December 31, 2024	459,432	459,432
Retained earnings	10,376,317	11,423,434
Total stockholders’ equity	10,835,749	11,882,866
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 12,763,387	$ 13,797,335

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

UNITED GUARDIAN INC 10-Q