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Condensed Consolidated Statements of Income and Shareholders' Equity
USD ($)
$ / shares
Revenue and other income:  
Leasing revenue $ 3,860,000
Other income, interest 47,000
Revenue and other income 3,907,000
Expenses:  
Operating 389,000
General and administrative 930,000
Total expenses 1,319,000
Income from continuing operations before income taxes 2,588,000
Income tax expense (benefit):  
Current 797,000
Deferred (67,000)
Total Income tax expense 730,000
Income from continuing operations 1,858,000
Gain on sale of discontinued operations, net of taxes 403,000
Net income 2,261,000
Retained earnings, beginning at Dec. 31, 2018 6,225,000
Income tax expense (benefit):  
Dividends on common stock ($.07 per share) based upon 6,599,912 shares outstanding (1,386,000)
Retained earnings, ending at Sep. 30, 2019 7,100,000
Shareholders' equity, ending at Sep. 30, 2019 $ 7,948,000
Basic income per common share based upon 6,599,912 shares outstanding:  
Continuing operations | $ / shares $ 0.28
Discontinued operations | $ / shares 0.06
Total basic income per common share | $ / shares $ 0.34
Leasing revenue $ 1,170,000
Other income, interest 7,000
Revenue and other income 1,177,000
Operating 132,000
General and administrative 289,000
Total expenses 421,000
Income from continuing operations before income taxes 756,000
Current 229,000
Deferred (17,000)
Total Income tax expense 212,000
Income from continuing operations 544,000
Net income 544,000
Retained earnings, beginning at Jun. 30, 2019 7,018,000
Income tax expense (benefit):  
Dividends on common stock ($.07 per share) based upon 6,599,912 shares outstanding (462,000)
Retained earnings, ending at Sep. 30, 2019 7,100,000
Shareholders' equity, ending at Sep. 30, 2019 $ 7,948,000
Basic income per common share based upon 6,599,912 shares outstanding:  
Continuing operations | $ / shares $ 0.08
Total basic income per common share | $ / shares $ 0.08
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
Leasing revenue 3,529,000
Other income, interest 7,000
Revenue and other income 3,536,000
Operating 401,000
General and administrative 970,000
Total expenses 1,371,000
Income from continuing operations before income taxes 2,165,000
Current 659,000
Deferred (75,000)
Total Income tax expense 584,000
Income from continuing operations 1,581,000
Net income 1,581,000
Retained earnings, beginning at Dec. 31, 2019 5,737,000
Income tax expense (benefit):  
Dividends on common stock ($.07 per share) based upon 6,599,912 shares outstanding (924,000)
Retained earnings, ending at Sep. 30, 2020 6,394,000
Shareholders' equity, ending at Sep. 30, 2020 $ 7,242,000
Basic income per common share based upon 6,599,912 shares outstanding:  
Continuing operations | $ / shares $ 0.24
Total basic income per common share | $ / shares $ 0.24
Leasing revenue $ 1,084,000
Other income, interest 1,000
Revenue and other income 1,085,000
Operating 161,000
General and administrative 282,000
Total expenses 443,000
Income from continuing operations before income taxes 642,000
Current 185,000
Deferred (9,000)
Total Income tax expense 176,000
Income from continuing operations 466,000
Net income 466,000
Retained earnings, beginning at Jun. 30, 2020 6,390,000
Income tax expense (benefit):  
Dividends on common stock ($.07 per share) based upon 6,599,912 shares outstanding (462,000)
Retained earnings, ending at Sep. 30, 2020 6,394,000
Shareholders' equity, ending at Sep. 30, 2020 $ 7,242,000
Basic income per common share based upon 6,599,912 shares outstanding:  
Continuing operations | $ / shares $ 0.07
Total basic income per common share | $ / shares $ 0.07
Class A common stock $ 66,000
Capital in excess of par $ 782,000