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Consolidated Statements of Income - USD ($)
3 Months Ended 6 Months Ended
May 31, 2024
May 31, 2023
May 31, 2024
May 31, 2023
REVENUES        
Revenues $ 882,838 $ 864,400 $ 1,718,772 $ 1,609,993
Payroll and payroll-related expenses 231,482 231,904 487,811 503,623
Occupancy 28,950 33,759 62,291 68,407
Advertising and promotion 398 4,904 762 7,705
Professional service fees 37,834 25,625 89,613 78,677
Travel 5,209 7,043 8,231 8,274
Employee benefit expenses 33,829 38,548 70,633 77,870
Depreciation and amortization 981 922 1,961 1,845
Marketing fund expenses 306,636 286,739 566,047 525,057
Other 51,069 63,866 122,993 118,046
Total Operating Expenses 696,388 693,310 1,410,342 1,389,504
Income from operations 186,450 171,090 308,430 220,489
Interest income 16,735 5,438 32,260 5,559
Income before provision for income taxes 203,185 176,528 340,690 226,048
Income Tax Expense (Benefit), Continuing Operations [Abstract]        
Current tax expense 61,349 75,823 122,140 90,023
Deferred tax expense (3,849) (25,823) (25,640) (25,823)
Total Tax Provision. 57,500 50,000 96,500 64,200
Net Income $ 145,685 $ 126,528 $ 244,190 $ 161,848
Net Income per share - Basic and Diluted (in dollars per share) $ 0.02 $ 0.02 $ 0.03 $ 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 $ 0.03
Royalty [Member]        
REVENUES        
Revenues $ 513,474 $ 494,933 $ 973,163 $ 937,541
Franchise [Member]        
REVENUES        
Revenues 9,215 7,054 19,461 11,401
Licensing Fees and Other Income [Member]        
REVENUES        
Revenues 53,513 75,674 160,101 135,994
Marketing Fund [Member]        
REVENUES        
Revenues $ 306,636 $ 286,739 $ 566,047 $ 525,057