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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Aug. 31, 2019
Nov. 30, 2018
Current assets:    
Cash $ 5,045 $ 3,512
Accounts receivable-customers, net of allowance for doubtful accounts of $24,654 and $25,100 in 2019 and 2018, respectively 2,502,390 1,537,113
Inventories, net 9,762,914 10,257,102
Cost and profit in excess of billings 80,727 99,287
Net investment in sales-type leases, current 152,524 123,055
Other current assets 234,510 125,089
Total current assets 12,738,110 12,145,158
Property, plant, and equipment, net 5,465,620 5,647,485
Assets held for lease, net 759,640 1,870,125
Deferred income taxes 1,795,256 1,432,422
Net investment in sales-type leases, long-term 36,853 153,787
Other assets 72,517 76,497
Total assets 20,867,996 21,325,474
Current liabilities:    
Accounts payable 1,035,257 802,062
Customer deposits 260,000 145,632
Billings in excess of cost and profit 1,315,877 185,014
Income taxes payable 6,400 6,400
Accrued expenses 955,897 893,284
Line of credit 2,909,530 3,505,530
Current portion of long-term debt 84,319 227,459
Total current liabilities 6,567,280 5,765,381
Long-term liabilities    
Long-term debt, excluding current portion 2,372,184 2,523,018
Total liabilities 8,939,464 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 4,316,087 in 2019 and 4,225,050 in 2018 43,161 42,250
Additional paid-in capital 3,214,766 3,055,632
Retained earnings 8,715,738 9,966,928
Treasury stock, at cost (17,875 in 2019 and 9,286 in 2018 shares) (45,133) (27,735)
Total stockholders’ equity 11,928,532 13,037,075
Total liabilities and stockholders’ equity $ 20,867,996 $ 21,325,474