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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Feb. 28, 2019
Nov. 30, 2018
Current assets:    
Cash $ 3,245 $ 3,512
Accounts receivable-customers, net of allowance for doubtful accounts of $33,530 and $25,100 in 2019 and 2018, respectively 1,662,072 1,537,113
Inventories, net 10,208,685 10,257,102
Cost and profit in excess of billings 379,666 99,287
Net investment in sales-type leases, current 147,494 123,055
Other current assets 302,207 125,089
Total current assets 12,703,369 12,145,158
Property, plant, and equipment, net 5,514,211 5,647,485
Assets held for lease, net 890,082 1,870,125
Deferred income taxes 1,603,218 1,432,422
Net investment in sales-type leases, long-term 116,557 153,787
Other assets 75,171 76,497
Total assets 20,902,608 21,325,474
Current liabilities:    
Accounts payable 794,491 802,062
Customer deposits 714,800 145,632
Billings in Excess of Cost and Profit 2,873 185,014
Income taxes payable 2,029 6,400
Accrued expenses 763,236 893,284
Line of credit 3,641,530 3,505,530
Current portion of long-term debt 82,563 227,459
Total current liabilities 6,001,522 5,765,381
Long-term liabilities    
Long-term debt, excluding current portion 2,415,217 2,523,018
Total liabilities 8,416,739 8,288,399
Commitments and Contingencies (Notes 9 and 10)
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2019 and 2018; issued 0 shares in 2019 and 2018.
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2019 and 2018; issued 4,296,703 in 2019 and 4,225,050 in 2018 42,967 42,250
Additional paid-in capital 3,120,461 3,055,632
Retained earnings 9,360,996 9,966,928
Treasury stock, at cost (14,779 in 2019 and 9,286 in 2018 shares) (38,555) (27,735)
Total stockholders’ equity 12,485,869 13,037,075
Total liabilities and stockholders’ equity $ 20,902,608 $ 21,325,474