Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Jun. 30, 2013
Jun. 30, 2012
Current assets    
Cash and cash equivalents $ 5,944,260 $ 6,527,940
Accounts and trade notes receivable, net of allowance for doubtful accounts of $155,000 at June 30, 2013 and 2012, respectively 2,240,632 1,400,773
Inventories, net 1,997,818 2,371,444
Lease and mortgage receivables, net 53,762 33,073
Refundable income taxes    18,700
Deferred income taxes 98,826 119,463
Other current assets 453,964 84,225
Total current assets 10,789,262 10,555,618
Leases and mortgages receivable - due after one year 26,526 38,323
Equipment and improvements, net 164,069 185,703
Intangible assets, net 53,199 65,890
Deferred income taxes 19,274 27,063
Total assets 11,052,330 10,872,597
Current liabilities    
Accounts payable and accrued expenses 1,253,426 922,371
Accrued employee expenses 1,459,874 564,734
Income taxes payable 166,250   
Deferred income 16,782 20,000
Customer deposits 2,472,333 1,068,827
Total current liabilities 5,368,665 2,575,932
Total liabilities 5,368,665 2,575,932
Commitments and contingencies      
Shareholders' equity    
Preferred stock, $1.00 par value; authorized shares - 200,000; none issued and outstanding      
Common stock, $0.025 par value: authorized shares - 15,000,000; 7,065,500, shares issued, including shares held in treasury 176,638 176,638
Additional paid-in capital 2,095,069 2,095,069
Retained earnings 3,415,896 6,028,896
Treasury stock, 31,768 shares, at cost (3,938) (3,938)
Total shareholders' equity 5,683,665 8,296,665
Total liabilities and shareholders' equity $ 11,052,330 $ 10,872,597