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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Aug. 31, 2021
Nov. 30, 2020
Current assets:    
Cash $ 108,006 $ 2,684
Accounts receivable-customers, net of allowance for doubtful accounts of $40,582 and $51,175 in 2021 and 2020, respectively 2,955,548 2,390,604
Inventories, net 9,288,863 7,762,400
Cost and profit in excess of billings 3,147 56,026
Net investment in sales-type leases, current 0 28,352
Other current assets 275,239 61,284
Total current assets 12,630,803 10,301,350
Property, plant, and equipment, net 5,256,459 5,218,662
Assets held for lease, net 521,555 521,555
Deferred income taxes 2,726,529 2,667,686
Other assets 119,843 93,760
Total assets 21,255,189 18,803,013
Current liabilities:    
Accounts payable 2,183,859 1,955,404
Customer deposits 704,332 198,225
Billings in excess of cost and profit 164,652 276,226
Income taxes payable 5,000 1,100
Accrued expenses 1,225,098 1,279,312
Line of credit 4,290,030 2,359,530
Current portion of long-term debt 96,222 94,979
Total current liabilities 8,669,193 6,164,776
Long-term liabilities    
Long-term portion of finance lease liabilities 5,777 0
Long-term portion of operating lease liabilities 38,209 18,342
Long-term debt, excluding current portion 2,657,183 2,713,150
Total liabilities 11,370,362 8,896,268
Commitments and Contingencies (Notes 7, 9, 10 and 13)
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2021 and 2020; issued and outstanding 0 shares in 2021 and 2020. 0 0
Common stock – $0.01 par value. Authorized 9,500,000 shares, issued 4,578,504 and 4,470,004 at August 31, 2021 and November 30, 2020, respectively 45,785 44,700
Additional paid-in capital 3,698,403 3,496,243
Retained earnings 6,249,164 6,443,856
Treasury stock, at cost (44,532 in 2021 and 35,097 in 2020 shares) (108,525) (78,054)
Total stockholders’ equity 9,884,827 9,906,745
Total liabilities and stockholders’ equity $ 21,255,189 $ 18,803,013