6) Property and Equipment

12 Months Ended

Dec. 31, 2019

Notes

6) Property and Equipment

6) Property and Equipment 

The cost of property and equipment is summarized below:

	December 31
	2019	2018
Land and buildings	$        15,131,301	$          7,775,922
Furniture and equipment	18,987,984	16,731,457
	34,119,285	24,507,379
Less accumulated depreciation	(19,518,891)	(17,496,601)
Total	$        14,600,394	$          7,010,778

Depreciation expense for the years ended December 31, 2019 and 2018 was $1,711,369 and $1,867,001, respectively. During 2019, the Company transferred $3,261,259 from real estate held for investment to property and equipment. This transfer is shown as a non cash item on the consolidated statements of cash flows. See Note 20 for additional information regarding property and equipment acquired through acquisitions.