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Consolidated Balance Sheets - USD ($)
Nov. 30, 2023
Nov. 30, 2022
Current assets:    
Cash $ 4,014 $ 5,055
Accounts receivable-customers, net of allowance for doubtful accounts of $32,137 and $33,288 in 2023 and 2022, respectively 3,432,216 2,466,790
Inventories, net 11,031,362 9,606,708
Cost and profit in excess of billings 289,282 450,906
Other current assets 296,662 333,287
Current assets of discontinued operations 31,958 1,270,683
Total current assets 15,085,494 14,133,429
Property, plant, and equipment, net 5,060,595 4,945,225
Assets held for lease, net 145,494 400,325
Deferred income taxes, net 2,503,213 2,605,395
Other assets 583,752 474,714
Other assets of discontinued operations 1,023,566 1,389,226
Total assets 24,402,114 23,948,314
Current liabilities:    
Accounts payable 2,256,502 2,510,463
Customer deposits 416,044 825,413
Billings in excess of cost and profit 351,289 328,041
Income taxes payable 5,000 3,500
Accrued expenses 1,399,232 1,161,761
Line of credit 4,413,520 3,924,500
Current portion of finance lease liabilities 257,454 142,893
Current portion of long-term debt 109,193 94,808
Current liabilities of discontinued operations 186,789 275,910
Total current liabilities 9,395,023 9,267,289
Long-term liabilities    
Long-term portion of operating lease liabilities 13,774 22,426
Long-term portion of finance lease liabilities 722,200 475,411
Long-term debt, excluding current portion 2,629,862 2,743,383
Long-term liabilities of discontinued operations 0 289,168
Total liabilities 12,760,859 12,797,677
Commitments and Contingencies (Notes 8, 9 and 10)
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 5,106,922 in 2023 and 5,013,671 in 2022 51,069 50,137
Additional paid-in capital 4,838,425 4,547,172
Retained earnings 7,021,253 6,754,284
Treasury stock, at cost (94,256 shares in 2023 and 64,574 shares in 2022) (269,492) (200,956)
Total stockholders’ equity 11,641,255 11,150,637
Total liabilities and stockholders’ equity $ 24,402,114 $ 23,948,314