XML 30 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Assets:    
Cash and cash equivalents $ 2,112,700 $ 1,596,800
Accounts receivable, including deferred rent of $217,200 and $985,300, net of allowance for doubtful accounts of $0 and $2,419,400 at December 31, 2013 and December 31, 2012, respectively 3,313,700 3,196,200
Finance lease receivable 1,895,200 1,557,200
Aircraft and aircraft engines held for lease, net of accumulated depreciation of $50,679,300 and $52,244,500 at December 31, 2013 and December 31, 2012, respectively 152,375,200 143,667,700
Assets held for sale 735,000 745,400
Prepaid expenses and other 3,633,000 1,663,200
Total assets 164,064,800 152,426,500
Liabilities:    
Accounts payable and accrued expenses 1,175,300 1,133,600
Notes payable and accrued interest 77,527,300 67,865,700
Maintenance reserves and accrued maintenance costs 13,254,100 15,356,100
Security deposits 6,265,000 7,001,200
Unearned revenues 646,700 752,400
Deferred income taxes 16,099,700 14,419,200
Income taxes payable 0 19,100
Total liabilities 114,968,100 106,547,300
Commitments and contingencies      
Stockholders' equity:    
Preferred stock, $0.001 par value, 2,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $0.001 par value, 10,000,000 shares authorized, 1,606,557 shares issued and outstanding 1,600 1,600
Paid-in capital 14,780,100 14,780,100
Retained earnings 34,819,100 31,601,600
Shareholders equity before treasury stock 49,600,800 46,383,300
Treasury stock at cost, 63,300 shares (504,100) (504,100)
Total stockholders' equity 49,096,700 45,879,200
Total liabilities and stockholders' equity $ 164,064,800 $ 152,426,500