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Consolidated Balance Sheets - USD ($)
Nov. 30, 2015
Nov. 30, 2014
Current assets:    
Cash $ 447,334 $ 511,716
Accounts receivable-customers, net of allowance for doubtful accounts of $18,810 and $35,175 in 2015 and 2014, respectively 2,057,739 2,961,834
Inventories, net 15,699,084 15,089,280
Deferred taxes 1,146,242 1,259,943
Cost and Profit in Excess of Billings 206,672 17,543
Income taxes receivable 345,912 100,417
Other current assets 59,336 125,229
Total current assets 19,962,319 20,065,961
Property, plant, and equipment, net $ 9,694,913 11,680,792
Assets held for lease, net $ 58,500
Assets held for sale, net $ 1,245,432
Goodwill 375,000 $ 993,729
Other Assets 53,944 47,360
Total assets 31,331,608 32,846,342
Current liabilities:    
Line of credit 3,959,656 2,569,106
Current portion of term debt 1,322,662 1,283,897
Accounts payable 522,400 874,653
Customer deposits 166,626 95,411
Billings in Excess of Cost and Profit 86,858 96,382
Accrued expenses 1,279,913 1,584,328
Total current liabilities 7,338,115 6,503,777
Long-term liabilities    
Deferred taxes 846,960 1,141,580
Long-term debt, excluding current portion 4,626,667 5,949,329
Total liabilities $ 12,811,742 $ 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 40,611 40,486
Additional paid-in capital 2,667,010 2,638,651
Retained earnings 15,812,245 16,572,519
Total stockholders’ equity 18,519,866 19,251,656
Total liabilities and stockholders’ equity $ 31,331,608 $ 32,846,342