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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
May 31, 2020
Nov. 30, 2019
Current assets:    
Cash $ 2,948 $ 3,145
Accounts receivable-customers, net of allowance for doubtful accounts of $33,428 and $22,925 in 2020 and 2019, respectively 2,153,391 1,679,975
Inventories, net 9,532,711 8,778,507
Cost and profit in excess of billings 161,715 726,667
Net investment in sales-type leases, current 77,607 148,005
Other current assets 213,272 70,931
Total current assets 12,141,644 11,407,230
Property, plant, and equipment, net 5,396,829 5,362,907
Assets held for lease, net 622,065 713,782
Deferred income taxes 2,118,465 1,786,048
Net investment in sales-type leases, long-term 5,782
Other assets 100,608 71,189
Total assets 20,379,611 19,346,938
Current liabilities:    
Accounts payable 1,197,192 1,205,313
Customer deposits 225,312 105,363
Billings in excess of cost and profit 268,361 88,931
Income taxes payable 6,400 6,400
Accrued expenses 1,211,753 1,132,826
Line of credit 3,130,530 2,578,530
Current portion of long-term debt 87,909 85,401
Total current liabilities 6,127,457 5,202,764
Long-term liabilities    
Long-term portion of operating lease liabilities 22,775
Long-term debt, excluding current portion 3,548,494 2,350,592
Total liabilities 9,698,726 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 4,464,837 in 2020 and 4,321,087 in 2019 44,648 43,211
Additional paid-in capital 3,401,402 3,250,087
Retained earnings 7,308,429 8,547,342
Treasury stock, at cost (33,313 in 2020 and 18,842 in 2019 shares) (73,594) (47,058)
Total stockholders’ equity 10,680,885 11,793,582
Total liabilities and stockholders’ equity $ 20,379,611 $ 19,346,938