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Consolidated Balance Sheets (USD $)
May 31, 2012
Nov. 30, 2011
Current assets:    
Cash $ 290,664 $ 118,924
Accounts receivable-customers, net of allowance for doubtful accounts of $52,627 and $49,583 in 2012 and 2011, respectively 7,427,664 2,030,369
Inventories, net 14,711,561 13,249,105
Deferred taxes 992,760 933,497
Cost and Profit in Excess of Billings 210,836 164,730
Other current assets 323,239 198,930
Total current assets 23,956,724 16,695,555
Property, plant, and equipment, net 9,433,164 8,085,719
Assets held for lease, net 396,710 452,441
Assets held for sale, net 184,254 186,362
Covenant not to Compete, net 30,000 60,000
Goodwill and other Intangibles 1,074,900 375,000
Total assets 35,075,752 25,855,077
Current liabilities:    
Notes payable to bank 2,086,000 1,388,965
Current portion of term debt 1,141,686 712,962
Accounts payable 1,695,904 341,738
Customer deposits 1,479,758 338,484
Billings in Excess of Cost and Profit 1,732,913 74,052
Accrued expenses 1,783,904 1,363,276
Income taxes payable 423,038 350,996
Total current liabilities 10,343,203 4,570,473
Deferred taxes 927,119 810,904
Long Term debt, excluding current portion 7,866,231 5,743,159
Total liabilities 19,136,553 11,124,536
Common stock – $0.01 par value. Authorized 10,000,000 and 5,000,000 shares in 2012 and 2011; issued and outstanding 4,035,852 and 4,025,852 shares in 2012 and 2011 40,359 40,259
Additional paid-in capital 2,540,312 2,461,233
Retained earnings 13,358,528 12,229,049
Total stockholders’ equity 15,939,199 14,730,541
Total liabilities and stockholders’ equity $ 35,075,752 $ 25,855,077