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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
May 31, 2017
Nov. 30, 2016
Current assets:    
Cash $ 212,792 $ 1,063,716
Accounts receivable-customers, net of allowance for doubtful accounts of $17,369 and $22,746 in 2017 and 2016, respectively 1,937,047 1,420,051
Inventories, net 13,955,283 13,529,352
Deferred income taxes 1,066,740
Cost and profit in excess of billings 266,246 108,349
Income taxes receivable 249,419 265,924
Assets of discontinued operations 7,500 9,700
Other current assets 432,782 158,087
Total current assets 17,061,069 17,621,919
Property, plant, and equipment, net 6,187,193 7,387,187
Assets held for lease, net 1,131,101
Assets held for sale, net 70,000 70,000
Goodwill 375,000 375,000
Other assets of discontinued operations 1,716,397 1,745,528
Deferred income taxes 689,685
Other assets 38,309 42,956
Total assets 27,268,754 27,242,590
Current liabilities:    
Line of credit 3,734,114 3,284,114
Current portion of long-term debt 2,526,581 1,807,937
Accounts payable 1,393,176 469,481
Customer deposits 642,967 289,195
Billings in Excess of Cost and Profit 196,812 4,297
Accrued expenses 1,008,213 1,019,056
Liabilites of discontinued operations 702,370 182,426
Total current liabilities 10,204,234 7,056,506
Long-term liabilities    
Deferred taxes 737,519
Long-term liabilities of discontinued operations 585,168
Long-term debt, excluding current portion 304,393 1,387,118
Total liabilities 10,508,627 9,766,311
Commitments and Contingencies (Notes 7 and 8)
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2017 and 2016; issued 0 shares in 2017 and 2016.
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2017 and 2016; issued 4,162,752 in 2017 and 4,109,052 in 2016 41,628 41,091
Additional paid-in capital 2,818,931 2,746,509
Retained earnings 14,213,323 14,990,911
Accumulated other comprehensive income (307,330) (302,232)
Treasury stock, at cost (1,838 in 2017 and 0 in 2016 shares) (6,425)
Total stockholders’ equity 16,760,127 17,476,279
Total liabilities and stockholders’ equity $ 27,268,754 $ 27,242,590