Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Jun. 30, 2015
Current assets    
Cash and cash equivalents $ 2,955,417 $ 3,908,974
Accounts and trade notes receivable, net of allowance for doubtful accounts of $134,000 at both dates 3,485,552 1,924,517
Inventories, net $ 2,628,786 2,808,910
Refundable income tax 197,764
Deferred income taxes $ 96,626 109,261
Lease and mortgage receivables, net 10,810 $ 15,277
Prepaid vendor deposits 1,077,000
Prepaid and other current assets 126,556 $ 72,144
Total current assets $ 10,380,747 9,036,847
Leases and mortgage receivables-due after one year 7,533
Equipment and improvements, net $ 147,603 188,243
Franchise license, trademarks and other intangible assets, net 28,354 33,482
Deferred income taxes 8,873 16,667
Total assets 10,565,577 9,282,772
Current liabilities    
Accounts payable and accrued expenses 3,817,781 1,403,583
Accrued employee expenses 719,616 $ 623,671
Income taxes payable 258,074
Deferred income 14,938 $ 20,464
Customer deposits 1,096,410 2,479,508
Total current liabilities $ 5,906,819 $ 4,527,226
Commitments and contingencies
Shareholders' equity    
Preferred stock, $1.00 par value; authorized shares - 200,000; none issued and outstanding
Common stock, $.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 2,390,989 2,487,777
Treasury stock, 31,768 shares at cost (3,938) (3,938)
Total shareholders' equity 4,658,758 4,755,546
Total liabilities and shareholders' equity $ 10,565,577 $ 9,282,772