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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Feb. 28, 2023
Nov. 30, 2022
Current assets:    
Cash $ 4,012 $ 5,055
Accounts receivable-customers, net of allowance for doubtful accounts of $36,201 and $34,699 in 2023 and 2022, respectively 3,665,795 2,722,298
Inventories, net 11,604,761 10,611,552
Cost and profit in excess of billings 98,376 450,906
Other current assets 436,380 343,618
Total current assets 15,809,324 14,133,429
Property, plant, and equipment, net 6,330,449 6,178,917
Assets held for lease, net 361,845 400,325
Deferred income taxes 2,514,259 2,605,395
Other assets 588,631 630,248
Total assets 25,604,508 23,948,314
Current liabilities:    
Accounts payable 2,502,302 2,630,966
Customer deposits 2,797,428 828,565
Billings in excess of cost and profit 676,917 328,041
Income taxes payable 3,500 3,500
Accrued expenses 1,300,701 1,283,204
Line of credit 3,055,559 3,924,500
Current portion of finance lease liabilities 172,619 170,835
Current portion of long-term debt 100,140 97,678
Total current liabilities 10,609,166 9,267,289
Long-term liabilities    
Long-term portion of operating lease liabilities 21,422 24,016
Long-term portion of finance lease liabilities 558,293 602,131
Long-term debt, excluding current portion 2,874,226 2,904,241
Total liabilities 14,063,107 12,797,677
Commitments and Contingencies  
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2023 and 2022; issued and outstanding 0 shares in 2023 and 2022. 0 0
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2023 and 2022; issued 5,100,921 in 2023 and 5,013,671 in 2022 51,009 50,137
Additional paid-in capital 4,615,188 4,547,172
Retained earnings 7,096,494 6,754,284
Treasury stock, at cost (72,699 shares in 2023 and 64,574 in 2022) (221,290) (200,956)
Total stockholders’ equity 11,541,401 11,150,637
Total liabilities and stockholders’ equity $ 25,604,508 $ 23,948,314