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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Feb. 29, 2020
Nov. 30, 2019
Current assets:    
Cash $ 3,287 $ 3,145
Accounts receivable-customers, net of allowance for doubtful accounts of $32,611 and $22,925 in 2020 and 2019, respectively 2,657,281 1,679,975
Inventories, net 9,314,429 8,778,507
Cost and profit in excess of billings 512,618 726,667
Net investment in sales-type leases, current 116,556 148,005
Other current assets 262,414 70,931
Total current assets 12,866,585 11,407,230
Property, plant, and equipment, net 5,449,777 5,362,907
Assets held for lease, net 667,925 713,782
Deferred income taxes 1,911,301 1,786,048
Net investment in sales-type leases, long-term 5,782
Other assets 104,178 71,189
Total assets 20,999,766 19,346,938
Current liabilities:    
Accounts payable 1,554,569 1,205,313
Customer deposits 222,269 105,363
Billings in Excess of Cost and Profit 434,134 88,931
Income taxes payable 23,981 6,400
Accrued expenses 1,105,013 1,132,826
Line of credit 3,844,530 2,578,530
Current portion of long-term debt 86,497 85,401
Total current liabilities 7,270,993 5,202,764
Long-term liabilities    
Long-term portion of operating lease liabilities 25,147
Long-term debt, excluding current portion 2,328,720 2,350,592
Total liabilities 9,624,860 7,553,356
Commitments and Contingencies
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2020 and 2019; issued 0 shares in 2020 and 2019.
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2020 and 2019; issued 4,374,837 in 2020 and 4,321,087 in 2019 43,748 43,211
Additional paid-in capital 3,287,130 3,250,087
Retained earnings 8,110,150 8,547,342
Treasury stock, at cost (29,359 in 2020 and 18,842 in 2019 shares) (66,122) (47,058)
Total stockholders’ equity 11,374,906 11,793,582
Total liabilities and stockholders’ equity $ 20,999,766 $ 19,346,938