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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Feb. 28, 2022
Nov. 30, 2021
Current assets:    
Cash $ 3,461 $ 2,658
Accounts receivable-customers, net of allowance for doubtful accounts of $26,748 and $38,188 at February 28, 2022 and November 30, 2021, respectively 1,582,564 2,663,030
Inventories, net 9,700,315 9,210,103
Cost and profit in excess of billings 145,640 177,284
Other current assets 627,464 121,170
Total current assets 12,059,444 12,174,245
Property, plant, and equipment, net 5,261,388 5,237,328
Assets held for lease, net 521,555 521,555
Deferred income taxes 2,730,925 2,621,886
Other assets 278,411 299,034
Total assets 20,851,723 20,854,048
Current liabilities:    
Accounts payable 1,553,729 1,737,091
Customer deposits 1,894,785 278,509
Billings in excess of cost and profit 368,514 280,761
Income taxes payable 5,000 5,500
Accrued expenses 1,018,558 1,210,964
Line of credit 3,150,530 4,074,530
Current portion of long-term debt 102,739 99,462
Total current liabilities 8,093,855 7,686,817
Long-term liabilities    
Long-term portion of finance lease liabilities 129,864 142,386
Long-term portion of operating lease liabilities 31,612 34,931
Long-term debt, excluding current portion 2,613,375 2,635,467
Total liabilities 10,868,706 10,499,601
Commitments and Contingencies (Notes 8, 9, 10 and 13)
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares at February 28, 2022 and November 30, 2021; issued and outstanding 0 shares at February 28, 2022 and November 30,2021. 0 0
Common stock – $0.01 par value. Authorized 9,500,000 shares at February 28, 2022 and November 30, 2021; issued 4,674,671 at February 28, 2022 and 4,583,504 at November 30, 2021 46,747 45,835
Additional paid-in capital 3,829,701 3,760,649
Retained earnings 6,249,998 6,656,487
Treasury stock, at cost (54,938 shares at February 28, 2022 and 44,532 shares at November 30, 2021) (143,429) (108,524)
Total stockholders’ equity 9,983,017 10,354,447
Total liabilities and stockholders’ equity $ 20,851,723 $ 20,854,048