Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flow

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Consolidated Statements of Cash Flow - USD ($)
 12 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities:    
Net earnings $ 1,671,817 $ 1,620,304
Adjustments to reconcile net income to net cash and cash equivalents provided (used) by operating activities:    
Depreciation and amortization 58,806 59,870
Bad debt expense 25,173 5,541
Inventory reserve 10,653 (2,577)
Provision for deferred income taxes (18,185) 10,356
(Increase) decrease in operating assets:    
Accounts and trade notes receivables (1,025,902) 1,311,303
Inventories 16,657 (835,826)
Lease and mortgage receivables 3,717 53,761
Refundable income taxes (134,884) (62,880)
Other current assets 341,935 39,885
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses (3,346,683) 3,496,840
Accrued employee expenses $ (282,710) (553,493)
Income taxes payable   (166,250)
Deferred income $ 20,464 (16,782)
Customer deposits (1,191,457) 1,198,632
Net cash (used) provided by operating activities (3,850,599) 6,158,684
Investing activities:    
Capital expenditures (58,021) (65,110)
Net cash used by investing activities (58,021) (65,110)
Financing activities:    
Dividends paid (1,406,746) (2,813,494)
Net cash used by financing activities (1,406,746) (2,813,494)
Net (decrease) increase in cash and cash equivalents (5,315,366) 3,280,080
Cash and cash equivalents at beginning of period 9,224,340  
Cash and cash equivalents at end of period 3,908,974 9,224,340
Supplemental disclosure of cash flow information:    
Cash paid for income taxes $ 1,164,000 $ 1,124,000