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Condensed Consolidated Statements of Income and Shareholders' Equity
USD ($)
$ / shares
Income Statement [Abstract]  
Leasing revenue $ 3,661,000
Expenses:  
Operating 601,000
General and administrative 1,048,000
Total expenses 1,649,000
Income from operations before income taxes 2,012,000
Income tax expense (benefit):  
Current 595,000
Deferred (38,000)
Total Income tax expense 557,000
Net income 1,455,000
Retained earnings, beginning at Dec. 31, 2020 6,334,000
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, 2021 $ 6,403,000
Income tax expense (benefit):  
Basic income per common share based upon 6,599,912 shares outstanding | $ / shares $ 0.22
Leasing revenue $ 1,397,000
Operating 274,000
General and administrative 324,000
Total expenses 598,000
Income from operations before income taxes 799,000
Current 194,000
Deferred 28,000
Total Income tax expense 222,000
Net income 577,000
Retained earnings, beginning at Jun. 30, 2021 6,288,000
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, 2021 $ 6,403,000
Income tax expense (benefit):  
Basic income per common share based upon 6,599,912 shares outstanding | $ / shares $ 0.09
Class A common stock $ 66,000
Capital in excess of par 782,000
Shareholders' equity, ending 7,251,000
Class A common stock 66,000
Capital in excess of par 782,000
Shareholders' equity, ending 7,173,000
Leasing revenue 3,821,000
Operating 821,000
General and administrative 1,121,000
Total expenses 1,942,000
Income from operations before income taxes 1,879,000
Current 610,000
Deferred (94,000)
Total Income tax expense 516,000
Net income 1,363,000
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 (1,386,000)
Retained earnings, ending at Sep. 30, 2022 $ 6,302,000
Income tax expense (benefit):  
Basic income per common share based upon 6,599,912 shares outstanding | $ / shares $ 0.21
Leasing revenue $ 1,206,000
Operating 282,000
General and administrative 386,000
Total expenses 668,000
Income from operations before income taxes 538,000
Current 167,000
Deferred (19,000)
Total Income tax expense 148,000
Net income 390,000
Retained earnings, beginning at Jun. 30, 2022 6,374,000
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, 2022 $ 6,302,000
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 $ 7,150,000