Note 3 - Property and Equipment

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note 3:      Property and Equipment

Property and equipment consisted of the following:

	September 30,			December 31,
	2022			2021
Land	$	6,815,711		$	6,815,147
Timber		2,230,710			2,214,985
Equipment		120,873			108,602
		9,167,294			9,138,734
Accumulated depreciation		(84,397	)		(82,496	)
Total	$	9,082,897		$	9,056,238

During the nine months ended September 30, 2022 and 2021, the Company had a gain on sale of land of $5,667 and $851,582, respectively.

Depreciation expense was $1,901 and $1,517 for the nine months ended September 30, 2022 and 2021, respectively.

Depletion expense was $737 and $534 for the nine months ended September 30, 2022 and 2021, respectively.