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Condensed Consolidated Statements of Income and Shareholders’ Equity
USD ($)
$ / shares
Revenue and other income:  
Revenue, leasing $ 1,272,000
Other income, interest 13,000
Revenue and other income 1,285,000
Expenses:  
Operating 282,000
General and administrative 370,000
Total expenses 652,000
Income from continuing operations before income taxes 633,000
Income tax expense (benefit):  
Current 162,000
Deferred 7,000
Total Income tax expense 169,000
Income from continuing operations 464,000
Income (loss) from discontinued operations:  
Loss from discontinued operations, net of taxes (35,000)
Gain on sale of discontinued operations, net of taxes 664,000
Income from discontinued operations: 629,000
Net income 1,093,000
Retained earnings, beginning at Dec. 31, 2017 11,762,000
Income (loss) from discontinued operations:  
Dividends on common stock ($.07 per share) based upon 6,599,912 shares outstanding (462,000)
Retained earnings, ending at Mar. 31, 2018 12,393,000
Shareholders' equity, ending at Mar. 31, 2018 $ 13,241,000
Basic income (loss) per common share based upon 6,599,912 shares outstanding:  
Continuing operations | $ / shares $ 0.07
Discontinued operations | $ / shares (0.01)
Gain on sale of discontinued operations | $ / shares 0.10
Total basic income per common share | $ / shares $ 0.16
Class A common stock $ 66,000
Capital in excess of par 782,000
Class A common stock 66,000
Capital in excess of par 782,000
Revenue, leasing 1,246,000
Other income, interest 34,000
Revenue and other income 1,280,000
Operating 133,000
General and administrative 330,000
Total expenses 463,000
Income from continuing operations before income taxes 817,000
Current 261,000
Deferred (31,000)
Total Income tax expense 230,000
Income from continuing operations 587,000
Gain on sale of discontinued operations, net of taxes 664,000
Income from discontinued operations: 664,000
Net income 1,251,000
Retained earnings, beginning at Dec. 31, 2018 6,225,000
Income (loss) from discontinued operations:  
Dividends on common stock ($.07 per share) based upon 6,599,912 shares outstanding (462,000)
Retained earnings, ending at Mar. 31, 2019 7,014,000
Shareholders' equity, ending at Mar. 31, 2019 $ 7,862,000
Basic income (loss) per common share based upon 6,599,912 shares outstanding:  
Continuing operations | $ / shares $ 0.09
Gain on sale of discontinued operations | $ / shares 0.10
Total basic income per common share | $ / shares $ 0.19
Class A common stock $ 66,000
Capital in excess of par $ 782,000