XML 17 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Income and Retained Earnings - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Revenue and other income:    
Revenue, leasing $ 4,808,000 $ 4,585,000
Other income, interest 2,000 8,000
Revenue and other income 4,810,000 4,593,000
Expenses:    
Operating 846,000 567,000
General and administrative 1,420,000 1,309,000
Total expenses 2,266,000 1,876,000
Income from continuing operations before income taxes 2,544,000 2,717,000
Income tax expense (benefit):    
Current 677,000 810,000
Deferred 28,000 (76,000)
Total Income tax expense 705,000 734,000
Net income 1,839,000 1,983,000
Retained earnings, beginning 6,334,000 5,737,000
Dividends on common stock based on 6,599,912 shares outstanding (1,848,000) (1,386,000)
Retained earnings, ending $ 6,325,000 $ 6,334,000
Basic income per common share based upon 6,599,912 shares outstanding $ 0.28 $ 0.30