Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Aug. 31, 2016	Nov. 30, 2015
Current assets:
Cash	$ 501,053	$ 447,231
Accounts receivable-customers, net of allowance for doubtful accounts of $42,317 and $18,778 in 2016 and 2015, respectively	2,700,314	1,882,528
Inventories, net	13,666,869	15,184,436
Deferred taxes	1,158,079	1,146,242
Cost and profit in excess of billings	331,969	206,672
Income taxes receivable	153,871	345,912
Assets of discontinued operations	430,451	694,556
Other current assets	272,871	54,742
Total current assets	19,215,477	19,962,319
Property, plant, and equipment, net	7,408,921	7,824,263
Assets held for sale, net	114,858	1,245,432
Goodwill	375,000	375,000
Other assets of discontinued operations	1,803,235	1,870,649
Other assets	65,944	53,945
Total assets	28,983,435	31,331,608
Current liabilities:
Line of credit	3,434,114	3,959,656
Current portion of long-term debt	1,845,690	1,195,839
Accounts payable	1,118,261	495,867
Customer deposits	62,166	162,797
Billings in Excess of Cost and Profit	64,799	86,858
Accrued expenses	944,025	1,191,364
Liabilites of discontinued operations	245,427	245,733
Total current liabilities	7,714,482	7,338,114
Long-term liabilities
Deferred taxes	793,828	846,960
Long-term liabilities of discontinued operations	618,194	715,946
Long-term debt, excluding current portion	1,530,097	3,910,722
Total liabilities	10,656,601	12,811,742
Commitments and Contingencies (Notes 7 and 8)
Stockholders’ equity:
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2016 and 2015; issued and outstanding 0 shares in 2016 and 2015.
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2016 and 2015; issued and outstanding 4,109,052 in 2016 and 4,061,052 in 2015	41,091	40,611
Additional paid-in capital	2,737,376	2,667,010
Retained earnings	15,548,367	15,812,245
Total stockholders’ equity	18,326,834	18,519,866
Total liabilities and stockholders’ equity	$ 28,983,435	$ 31,331,608

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.