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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Aug. 31, 2022
Nov. 30, 2021
Current assets:    
Cash $ 4,144 $ 2,658
Accounts receivable-customers, net of allowance for doubtful accounts of $34,504 and $38,188 at August 31, 2022 and November 30, 2021, respectively 3,820,163 2,663,030
Inventories, net 10,499,593 9,210,103
Cost and profit in excess of billings 194,402 177,284
Other current assets 430,314 121,170
Total current assets 14,948,616 12,174,245
Property, plant, and equipment, net 5,945,060 5,237,328
Assets held for lease, net 532,967 521,555
Deferred income taxes 2,622,606 2,621,886
Other assets 671,824 299,034
Total assets 24,721,073 20,854,048
Current liabilities:    
Accounts payable 2,535,099 1,737,091
Customer deposits 1,300,973 278,509
Billings in excess of cost and profit 302,676 280,761
Income taxes payable 5,500 5,500
Accrued expenses 1,271,428 1,162,373
Line of credit 4,559,000 4,074,530
Current portion of finance lease liabilities 169,023 48,591
Current portion of long-term debt 114,407 99,462
Total current liabilities 10,258,106 7,686,817
Long-term liabilities    
Long-term portion of finance lease liabilities 645,499 142,386
Long-term portion of operating lease liabilities 26,578 34,931
Long-term debt, excluding current portion 2,909,198 2,635,467
Total liabilities 13,839,381 10,499,601
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares at August 31, 2022 and November 30, 2021; issued and outstanding 0 shares at August 31, 2022 and November 30, 2021 0 0
Common stock – $0.01 par value. Authorized 9,500,000 shares at August 31, 2022 and November 30, 2021; issued 4,944,671 at August 31, 2022 and 4,583,504 in November 30, 2021 49,447 45,835
Additional paid-in capital 4,370,311 3,760,649
Retained earnings 6,662,890 6,656,487
Treasury stock, at cost (64,574 shares at August 31, 2022 and 44,532 shares at November 30, 2021) 200,956 108,524
Total stockholders’ equity 10,881,692 10,354,447
Total liabilities and stockholders’ equity $ 24,721,073 $ 20,854,048