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Condensed Consolidated Balance Sheets (Unaudited Current Period) - USD ($)
Feb. 29, 2024
Nov. 30, 2023
Current assets:    
Cash $ 2,485 $ 4,014
Accounts receivable, net 3,046,389 3,432,216
Inventories, net 10,983,337 11,031,362
Cost and profit in excess of billings 125,889 289,282
Other current assets 529,505 296,662
Current assets of discontinued operations 23,090 31,958
Total current assets 14,710,695 15,085,494
Property, plant, and equipment, net 5,158,408 5,060,595
Assets held for lease, net 166,369 145,494
Deferred income taxes, net 2,628,076 2,503,213
Other assets 574,190 583,752
Other assets of discontinued operations 1,016,257 1,023,566
Total assets 24,253,995 24,402,114
Current liabilities:    
Accounts payable 1,147,300 2,256,502
Customer deposits 1,087,036 416,044
Billings in excess of cost and profit 1,046,408 351,289
Income taxes payable 5,000 5,000
Accrued expenses 1,023,596 1,399,232
Line of credit 4,880,437 4,413,520
Current portion of finance lease liabilities 255,677 257,454
Current portion of long-term debt 110,986 109,193
Current liabilities of discontinued operations 178,703 186,789
Total current liabilities 9,735,143 9,395,023
Long-term portion of operating lease liabilities 11,546 13,774
Long-term portion of finance lease liabilities 701,208 722,200
Long-term debt, excluding current portion 2,601,580 2,629,862
Total liabilities 13,049,477 12,760,859
Commitments and Contingencies (Notes 9, 11, and 12)
Stockholders’ equity:    
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares on February 29, 2024 and November 30, 2023; issued and outstanding 0 shares on February 29, 2024 and November 30, 2023. 0 0
Common stock – $0.01 par value. Authorized 9,500,000 shares on February 29, 2024 and November 30, 2023; 5,180,922 issued on February 29, 2024 and 5,106,922 on November 30, 2023 51,809 51,069
Additional paid-in capital 4,903,642 4,838,425
Retained earnings 6,556,213 7,021,253
Treasury stock, at cost (112,714 shares on February 29, 2024 and 94,256 shares on November 30, 2023) (307,146) (269,492)
Total stockholders’ equity 11,204,518 11,641,255
Total liabilities and stockholders’ equity $ 24,253,995 $ 24,402,114