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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Aug. 31, 2023
Nov. 30, 2022
Current assets:    
Cash $ 4,217 $ 5,055
Accounts receivable-customers, net of allowance for doubtful accounts of $34,707 and $34,699 on August 31, 2023 and November 30, 2022, respectively 4,456,012 2,466,790
Inventories, net 10,826,657 9,606,708
Cost and profit in excess of billings 286,128 450,906
Other current assets 347,974 333,287
Current assets of discontinued operations 389,660 1,270,683
Total current assets 16,310,648 14,133,429
Property, plant, and equipment, net 4,925,508 4,945,225
Assets held for lease, net 177,333 400,325
Deferred income taxes, net 2,460,941 2,605,395
Other assets 503,607 474,714
Other assets of discontinued operations 1,186,785 1,389,226
Total assets 25,564,822 23,948,314
Current liabilities:    
Accounts payable 2,878,375 2,510,463
Customer deposits 420,337 825,413
Billings in excess of cost and profit 643,906 328,041
Income taxes payable 5,000 3,500
Accrued expenses 1,141,578 1,161,761
Line of credit 4,534,559 3,924,500
Current portion of finance lease liabilities 213,264 142,893
Current portion of long-term debt 106,603 94,808
Current liabilities of discontinued operations 260,954 275,910
Total current liabilities 10,204,576 9,267,289
Long-term portion of operating lease liabilities 15,976 22,426
Long-term portion of finance lease liabilities 691,929 475,411
Long-term debt, excluding current portion 2,658,569 2,743,383
Long-term liabilities of discontinued operations 105,030 289,168
Total liabilities 13,676,080 12,797,677
Commitments and Contingencies (Notes 8, 9, 10 and 13)
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares on August 31, 2023 and November 30, 2022; issued and outstanding 0 shares on August 31, 2023 and November 30, 2022. 0 0
Common stock – $0.01 par value. Authorized 9,500,000 shares on August 31, 2023 and November 30, 2022; issued 5,101,922 on August 31, 2023 and 5,013,671 on November 30, 2022 51,019 50,137
Additional paid-in capital 4,773,545 4,547,172
Retained earnings 7,329,129 6,754,284
Treasury stock, at cost (92,348 shares on August 31, 2023 and 64,574 on November 30, 2022) (264,951) (200,956)
Total stockholders’ equity 11,888,742 11,150,637
Total liabilities and stockholders’ equity $ 25,564,822 $ 23,948,314