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Consolidated Balance Sheets - USD ($)
Nov. 30, 2021
Nov. 30, 2020
Current assets:    
Cash $ 2,658 $ 2,684
Accounts receivable-customers, net of allowance for doubtful accounts of $38,188 and $51,175 in 2021 and 2020, respectively 2,663,030 2,390,604
Inventories, net 9,210,103 7,762,400
Cost and profit in excess of billings 177,284 56,026
Net investment in sales-type leases, current 0 28,352
Other current assets 121,170 61,284
Total current assets 12,174,245 10,301,350
Property, plant, and equipment, net 5,237,328 5,218,662
Assets held for lease, net 521,555 521,555
Deferred income taxes 2,621,886 2,667,686
Other assets 299,034 93,760
Total assets 20,854,048 18,803,013
Current liabilities:    
Accounts payable 1,737,091 1,955,404
Customer deposits 278,509 198,225
Billings in excess of cost and profit 280,761 276,226
Income taxes payable 5,500 1,100
Accrued expenses 1,210,964 1,279,312
Line of credit 4,074,530 2,359,530
Current portion of long-term debt 99,462 94,979
Total current liabilities 7,686,817 6,164,776
Long-term portion of finance lease liabilities 142,386 0
Long-term portion of operating lease liabilities 34,931 18,342
Long-term debt, excluding current portion 2,635,467 2,713,150
Total liabilities 10,499,601 8,896,268
Commitments and Contingencies (Notes 8, 9 and 15)
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 in 2021 and 2020; issued 4,583,504 in 2021 and 4,470,004 in 2020 45,835 44,700
Additional paid-in capital 3,760,649 3,496,243
Retained earnings 6,656,487 6,443,856
Treasury stock, at cost (44,532 in 2021 and 35,097 in 2020 shares) (108,524) (78,054)
Total stockholders’ equity 10,354,447 9,906,745
Total liabilities and stockholders’ equity $ 20,854,048 $ 18,803,013