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Note 3 - Discontinued Operations
 9 Months Ended
Aug. 31, 2017
Notes to Financial Statements  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
3
)
Dis
continued Operations
 
Effective
October 31
,
2016,
the Company discontinued the operations of its Vessels segment in order to focus its efforts and resources on the business segments that have historically been more successful and that are expected to present greater opportunities for meaningful long-term shareholder returns. The Company’s plan is to dispose of these assets over the next several quarters. At this time, the Company is working to dispose of the remaining assets, primarily the real estate.
 
As Vessels was a unique business unit of the Company, its
liquidation was a strategic shift. In accordance with Accounting Standard Code Topic
360,
the Company has classified Vessels as discontinued operations for all periods presented.
 
Income from discontinued operations, before income taxes in the accompanying Condensed Consolidated Statements of Operations
, is comprised of the following:
 
   
Art's Way Vessels
  
   
Three Months Ended
  
   
August 31, 2017
    
August 31, 2016
  
Revenue from
external customers
   $
-
     $
358,253
  
                 
Gross Profit
    
-
      
(97,357
 )
Operating Expense
    
17,082
      
104,113
  
                 
Income (loss) from operations
    
(17,082
 )    
(201,470
 )
                 
Income (loss) before tax
    
(26,449
 )    
(207,203
 )
 
   
Art's Way Vessels
  
   
Nine Months Ended
  
   
August 31, 2017
    
August 31, 2016
  
Revenue from
external customers
   $
-
     $
1,480,688
  
                 
Gross Profit
    
-
      
(6,965
 )
Operating Expense
    
40,905
      
362,859
  
                 
Income (loss) from operations
    
(40,905
 )    
(369,824
 )
                 
Income (loss) before tax
    
(49,238
 )    
(387,321
 )
 
 
The components of discontinued operations in the accompanying
Condensed Consolidated Balance Sheets are as follows:
 
   
August 31, 2017
    
November 30, 2016
  
Cash
   $
14,534
     $
-
  
Accounts Receivable - Net
    
7,500
      
9,700
  
Property, plant, and equipment, net
    
1,714,198
      
1,745,528
  
Assets of discontinued operations
   $
1,736,232
     $
1,755,228
  
                 
Accounts payable
   $
-
     $
1,588
  
Accrued expenses
    
38,042
      
50,061
  
Notes Payable
    
618,016
      
715,945
  
Liabilities of discontinued operations
   $
656,058
     $
767,594