XML 19 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Balance Sheets (USD $)
Nov. 30, 2011
Nov. 30, 2010
Current assets:    
Cash $ 118,924 $ 317,103
Accounts receivable-customers, net of allowance for doubtful accounts of $49,583 and $114,834 in 2011 and 2010, respectively 2,030,369 2,493,624
Inventories, net 13,249,105 13,795,816
Deferred taxes 933,497 821,000
Cost and Profit in Excess of Billings 164,730 256,739
Other current assets 198,930 245,774
Total current assets 16,695,555 17,930,056
Property, plant, and equipment, net 8,085,719 8,033,375
Assets held for lease, net 452,441 319,131
Assets held for sale, net 186,362  
Covenant not to Compete, net 60,000 120,000
Goodwill 375,000 375,000
Total assets 25,855,077 26,777,562
Current liabilities:    
Notes payable to bank 1,388,965 2,084,000
Current portion of term debt 712,962 615,294
Accounts payable 341,738 1,008,688
Customer deposits 338,484 440,888
Billings in Excess of Cost and Profit 74,052 41,571
Accrued expenses 1,363,276 1,381,098
Income taxes payable 350,996 594,816
Total current liabilities 4,570,473 6,166,355
Deferred taxes 810,904 568,000
Term debt, excluding current portion 5,743,159 6,452,750
Total liabilities 11,124,536 13,187,105
Stockholders’ equity:    
Common stock – $0.01 par value. Authorized 5,000,000 shares; issued and outstanding 4,025,852 and 4,008,352 shares in 2011 and 2010 40,259 40,084
Additional paid-in capital 2,461,233 2,328,668
Retained earnings 12,229,049 11,221,705
Total stockholders’ equity 14,730,541 13,590,457
Total liabilities and stockholders’ equity $ 25,855,077 $ 26,777,562