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Consolidated Statements of Income - USD ($)
3 Months Ended 6 Months Ended
May 31, 2023
May 31, 2022
May 31, 2023
May 31, 2022
REVENUES        
Revenues $ 864,400 $ 824,432 $ 1,609,993 $ 1,562,708
Selling, general and administrative expenses:        
Payroll and payroll-related expenses 231,904 253,502 503,623 489,631
Occupancy 33,759 33,303 68,407 66,885
Advertising and promotion 4,904 5,153 7,705 8,486
Professional service fees 25,625 19,616 78,677 63,901
Travel 7,043 5,855 8,274 7,672
Employee benefit expenses 38,548 35,732 77,870 77,860
Depreciation and amortization 922 1,284 1,845 2,594
Marketing fund expenses 286,739 276,110 525,057 520,845
Other 63,866 61,928 118,046 104,316
Total Operating Expenses 693,310 692,483 1,389,504 1,342,190
Income from operations 171,090 131,949 220,489 220,518
Interest income 5,438 58 5,559 129
Income before provision for income taxes 176,528 132,007 226,048 220,647
Provision for income taxes        
Current tax expense 75,823 21,591 90,023 30,341
Deferred tax expense (benefit) (25,823) 16,500 (25,823) 33,500
Total Tax Provision. 50,000 38,091 64,200 63,841
Net Income $ 126,528 $ 93,916 $ 161,848 $ 156,806
Net Income per share - Basic and Diluted (in dollars per share) $ 0.02 $ 0.01 $ 0.02 $ 0.02
Weighted average shares outstanding - Basic and diluted (in shares) 7,263,508 7,263,508 7,263,508 7,263,508
Cash distributions declared per share (in dollars per share) $ 0.01 $ 0.01 $ 0.03 $ 0.02
Royalty [Member]        
REVENUES        
Revenues $ 494,933 $ 465,491 $ 937,541 $ 879,712
Franchise [Member]        
REVENUES        
Revenues 7,054 9,102 11,401 18,079
Licensing Fees and Other Income [Member]        
REVENUES        
Revenues 75,674 73,729 135,994 144,072
Marketing Fund [Member]        
REVENUES        
Revenues $ 286,739 $ 276,110 $ 525,057 $ 520,845