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Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Assets:    
Cash and cash equivalents $ 3,241,000 $ 1,840,500
Accounts receivable, including deferred rent of $82,200 and $111,300 at June 30, 2015 and December 31, 2014, respectively 3,189,900 2,128,600
Finance leases receivable 10,835,400 0
Aircraft and aircraft engines held for lease, net of accumulated depreciation of $39,128,500 and $38,962,800 at June 30, 2015 and December 31, 2014, respectively 170,638,700 186,762,600
Assets held for sale 8,748,000 6,522,900
Prepaid expenses and other 276,100 415,900
Total assets 196,929,100 197,670,500
Liabilities:    
Accounts payable and accrued expenses 1,329,200 2,818,200
Notes payable and accrued interest, net of unamortized debt issuance costs of $3,220,900 and $4,104,400 at June 30, 2015 and December 31, 2014, respectively 124,266,500 129,486,200
Maintenance reserves 16,049,600 12,927,700
Accrued maintenance costs 514,400 2,115,700
Security deposits 4,484,600 5,218,300
Unearned revenues 3,585,800 1,642,200
Deferred income taxes 9,750,600 8,621,300
Total liabilities $ 159,980,700 $ 162,829,600
Commitments and contingencies    
Stockholders' equity:    
Preferred stock, $0.001 par value, 2,000,000 shares authorized, no shares issued and outstanding $ 0 $ 0
Common stock, $0.001 par value, 10,000,000 shares authorized, 1,606,557 shares issued and outstanding 1,600 1,600
Paid-in capital 14,780,100 14,780,100
Retained earnings 22,670,800 20,563,300
Shareholders equity before treasury stock 37,452,500 35,345,000
Treasury stock at cost, 63,300 shares (504,100) (504,100)
Total stockholders' equity 36,948,400 34,840,900
Total liabilities and stockholders' equity $ 196,929,100 $ 197,670,500