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Consolidated Balance Sheets - USD ($)
Nov. 30, 2018
Nov. 30, 2017
Current assets:    
Cash $ 3,512 $ 212,400
Accounts receivable-customers, net of allowance for doubtful accounts of $25,100 and $32,298 in 2018 and 2017, respectively 1,537,113 1,910,294
Inventories, net 10,257,102 11,966,722
Cost and profit in excess of billings 99,287 65,146
Net investment in sales-type leases, current 123,055
Assets of discontinued operations 2,454
Other current assets 125,089 275,755
Total current assets 12,145,158 14,432,771
Property, plant, and equipment, net 5,647,485 5,946,957
Assets held for lease, net 1,870,125 1,217,164
Deferred income taxes 1,432,422 901,396
Goodwill 375,000
Net investment in sales-type leases, long-term 153,787
Other assets of discontinued operations 1,425,000
Other assets 76,497 81,545
Total assets 21,325,474 24,379,833
Current liabilities:    
Accounts payable 802,062 673,653
Customer deposits 145,632 600,325
Billings in excess of cost and profit 185,014 48,211
Income taxes payable 6,400 3,100
Accrued expenses 893,284 981,558
Liabilities of discontinued operations 59,149
Line of credit 3,505,530 2,462,530
Current portion of long-term debt 227,459 221,230
Total current liabilities 5,765,381 5,049,756
Long-term liabilities    
Long-term liabilities of discontinued operations 590,366
Long-term debt, excluding current portion 2,523,018 2,748,677
Total liabilities 8,288,399 8,388,799
Commitments and Contingencies (Notes 9, 10 and 17)
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2018 and 2017; issued and outstanding 0 shares in 2018 and 2017.
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2018 and 2017; issued and outstanding 4,225,050 in 2018 and 4,158,752 in 2017 42,250 41,587
Additional paid-in capital 3,055,632 2,859,052
Retained earnings 9,966,928 13,353,830
Accumulated other comprehensive loss (257,010)
Treasury stock, at cost (9,286 in 2018 and 1,954 in 2017 shares) (27,735) (6,425)
Total stockholders’ equity 13,037,075 15,991,034
Total liabilities and stockholders’ equity $ 21,325,474 $ 24,379,833