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Condensed Consolidated Statements of Income and Shareholders' Equity
USD ($)
$ / shares
Income Statement [Abstract]  
Leasing revenue $ 1,163,000
Expenses:  
Operating 253,000
General and administrative 392,000
Total expenses 645,000
Income from operations before income taxes 518,000
Income tax expense (benefit):  
Current 180,000
Deferred (32,000)
Total Income tax expense 148,000
Net income 370,000
Retained earnings, beginning at Dec. 31, 2021 6,325,000
Income tax expense (benefit):  
Dividends on common stock ($.07 per share) based upon 6,599,912 shares outstanding (462,000)
Retained earnings, ending at Mar. 31, 2022 $ 6,233,000
Income tax expense (benefit):  
Basic income per common share based upon 6,599,912 shares outstanding | $ / shares $ 0.06
Class A common stock $ 66,000
Capital in excess of par 782,000
Shareholders' equity, ending 7,081,000
Class A common stock 66,000
Capital in excess of par 782,000
Shareholders' equity, ending 7,112,000
Leasing revenue 1,251,000
Operating 225,000
General and administrative 352,000
Total expenses 577,000
Income from operations before income taxes 674,000
Current 212,000
Deferred (23,000)
Total Income tax expense 189,000
Net income 485,000
Retained earnings, beginning at Dec. 31, 2022 6,264,000
Income tax expense (benefit):  
Dividends on common stock ($.07 per share) based upon 6,599,912 shares outstanding (462,000)
Retained earnings, ending at Mar. 31, 2023 $ 6,287,000
Income tax expense (benefit):  
Basic income per common share based upon 6,599,912 shares outstanding | $ / shares $ 0.07
Class A common stock $ 66,000
Capital in excess of par 782,000
Shareholders' equity, ending $ 7,135,000