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Consolidated Balance Sheets - USD ($)
Nov. 30, 2017
Nov. 30, 2016
Current assets:    
Cash $ 212,400 $ 1,063,716
Accounts receivable-customers, net of allowance for doubtful accounts of $32,298 and $22,746 in 2017 and 2016, respectively 1,910,294 1,420,051
Inventories, net 11,966,722 13,529,352
Deferred income taxes 1,066,740
Cost and profit in excess of billings 65,146 108,349
Income taxes receivable 265,924
Assets of discontinued operations 2,454 9,700
Other current assets 275,755 158,087
Total current assets 14,432,771 17,621,919
Property, plant, and equipment, net 5,946,957 7,387,187
Assets held for lease, net 1,217,164
Assets held for sale, net 70,000
Deferred income taxes 901,396
Goodwill 375,000 375,000
Other assets of discontinued operations 1,425,000 1,745,528
Other assets 81,545 42,956
Total assets 24,379,833 27,242,590
Current liabilities:    
Line of credit 2,462,530 3,284,114
Current portion of long-term debt 221,230 1,807,937
Accounts payable 673,653 469,481
Customer deposits 600,325 289,195
Billings in Excess of Cost and Profit 48,211 4,297
Accrued expenses 981,558 1,019,056
Liabilites of discontinued operations 59,149 182,426
Income taxes payable 3,100
Total current liabilities 5,049,756 7,056,506
Long-term liabilities    
Deferred taxes 737,519
Long-term liabilities of discontinued operations 590,366 585,168
Long-term debt, excluding current portion 2,748,677 1,387,118
Total liabilities 8,388,799 9,766,311
Commitments and Contingencies (Notes 9, 10 and 16)
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2017 and 2016; issued and outstanding 0 shares in 2017 and 2016.
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2017 and 2016; issued and outstanding 4,158,752 in 2017 and 4,109,052 in 2016 41,587 41,091
Additional paid-in capital 2,859,052 2,746,509
Retained earnings 13,353,830 14,990,911
Accumulated other comprehensive loss (257,010) (302,232)
Treasury stock, at cost (1,954 in 2017 and 0 in 2016 shares) (6,425)
Total stockholders’ equity 15,991,034 17,476,279
Total liabilities and stockholders’ equity $ 24,379,833 $ 27,242,590