Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Jun. 30, 2014
Current assets    
Cash and cash equivalents $ 3,908,974 $ 9,224,340
Accounts and trade notes receivable, net of allowance for doubtful accounts of $134,000 and $140,000, respectively 1,924,517 923,788
Inventories, net 2,808,910 2,836,220
Lease and mortgage receivables, net 15,277 12,494
Refundable income taxes 197,764 62,880
Deferred income taxes 109,261 100,777
Other current assets 72,144 414,079
Total current assets 9,036,847 13,574,578
Leases and mortgages receivable - due after one year 7,533 14,033
Equipment and improvements, net 188,243 181,629
Intangible assets, net 33,482 40,880
Deferred income taxes 16,667 6,967
Total assets 9,282,772 13,818,087
Current liabilities    
Accounts payable and accrued expenses 1,403,583 4,750,266
Accrued employee expenses 623,671 $ 906,381
Deferred income 20,464  
Customer deposits 2,479,508 $ 3,670,965
Total current liabilities 4,527,226 9,327,612
Total liabilities $ 4,527,226 $ 9,327,612
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 2,487,777 2,222,706
Treasury stock, 31,768 shares, at cost (3,938) (3,938)
Total shareholders' equity 4,755,546 4,490,475
Total liabilities and shareholders' equity $ 9,282,772 $ 13,818,087