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Consolidated Balance Sheets - USD ($)
Nov. 30, 2020
Nov. 30, 2019
Current assets:    
Cash $ 2,684 $ 3,145
Accounts receivable-customers, net of allowance for doubtful accounts of $51,175 and $22,925 in 2020 and 2019, respectively 2,390,604 1,679,975
Inventories, net 7,762,400 8,778,507
Cost and profit in excess of billings 56,026 726,667
Net investment in sales-type leases, current 28,352 148,005
Other current assets 61,284 70,931
Total current assets 10,301,350 11,407,230
Property, plant, and equipment, net 5,218,662 5,362,907
Assets held for lease, net 521,555 713,782
Deferred income taxes 2,667,686 1,786,048
Net investment in sales-type leases, long-term 5,782
Other assets 93,760 71,189
Total assets 18,803,013 19,346,938
Current liabilities:    
Accounts payable 1,955,404 1,205,313
Customer deposits 198,225 105,363
Billings in excess of cost and profit 276,226 88,931
Income taxes payable 1,100 6,400
Accrued expenses 1,279,312 1,132,826
Line of credit 2,359,530 2,578,530
Current portion of long-term debt 94,979 85,401
Total current liabilities 6,164,776 5,202,764
Long-term liabilities    
Long-term portion of operating lease liabilities 18,342
Long-term debt, excluding current portion 2,713,150 2,350,592
Total liabilities 8,896,268 7,553,356
Commitments and Contingencies (Notes 8, 9 and 15)
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2020 and 2019; issued and outstanding 0 shares in 2020 and 2019.
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2020 and 2019; issued 4,470,004 in 2020 and 4,321,087 in 2019 44,700 43,211
Additional paid-in capital 3,496,243 3,250,087
Retained earnings 6,443,856 8,547,342
Treasury stock, at cost (35,097 in 2020 and 18,842 in 2019 shares) (78,054) (47,058)
Total stockholders’ equity 9,906,745 11,793,582
Total liabilities and stockholders’ equity $ 18,803,013 $ 19,346,938