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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Aug. 31, 2015
Nov. 30, 2014
Current assets:    
Cash $ 643,540 $ 511,716
Accounts receivable-customers, net of allowance for doubtful accounts of $21,072 and $35,175 in 2015 and 2014, respectively 1,875,735 2,961,834
Inventories, net 16,493,566 15,089,280
Deferred taxes 1,327,079 1,259,943
Cost and Profit in Excess of Billings 87,379 17,543
Income taxes receivable 265,013 100,417
Other current assets 320,740 125,228
Total current assets 21,013,052 20,065,961
Property, plant, and equipment, net 11,249,804 11,680,792
Assets held for lease, net 10,636 58,500
Goodwill 375,000 993,729
Other Assets 56,204 47,360
Total assets 32,704,696 32,846,342
Current liabilities:    
Line of credit 4,031,278 2,569,106
Current portion of term debt 1,312,664 1,283,897
Accounts payable 1,225,767 874,653
Customer deposits 115,098 95,411
Billings in Excess of Cost and Profit 126,447 96,382
Accrued expenses 1,229,050 1,584,328
Total current liabilities 8,040,304 6,503,777
Long-term liabilities    
Deferred taxes 1,021,580 1,141,580
Long Term debt, excluding current portion 4,960,874 5,949,329
Total liabilities $ 14,022,758 $ 13,594,686
Commitments and Contingencies (Notes 6 and 7)
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2015 and 2014; issued and outstanding 0 shares in 2015 and 2014. $ 0 $ 0
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2015 and 2014; issued and outstanding 4,061,052 in 2015 and 4,048,552 in 2014 40,610 40,486
Additional paid-in capital 2,667,010 2,638,651
Retained earnings 15,974,318 16,572,519
Total stockholders’ equity 18,681,938 19,251,656
Total liabilities and stockholders’ equity $ 32,704,696 $ 32,846,342