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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jan. 31, 2021
Jul. 31, 2020
Property and Equipment-at cost:    
Land $ 6,067,805 $ 6,067,805
Buildings held for leasing:    
Buildings, improvements and fixtures 74,407,667 73,271,398
Construction in progress 1,624,601 1,266,723
Property, Plant and Equipment, Gross 76,032,268 74,538,121
Accumulated depreciation (33,897,432) (33,007,989)
Buildings - net 42,134,836 41,530,132
Property and equipment-net 48,202,641 47,597,937
Cash and cash equivalents 1,493,124 3,260,135
Restricted cash 912,966 1,143,666
Receivables, net 2,671,780 2,219,946
Marketable securities 3,924,076 3,744,905
Prepaids and other assets 2,247,474 2,389,582
Deferred charges, net 3,932,010 2,986,648
Operating lease right-of-use assets 35,826,496 37,077,038
TOTAL ASSETS 99,210,567 100,419,857
Liabilities:    
Mortgages payable, net 8,080,454 8,627,965
Note payable 722,726 722,726
Accounts payable and accrued expenses 3,291,026 2,771,540
Security deposits payable 869,652 809,652
Operating lease liabilities 28,470,232 29,044,966
Deferred income taxes 4,544,000 4,741,000
Total liabilities 45,978,090 46,717,849
Common stock, par value $1 each share (shares-5,000,000 authorized; 2,178,297 issued) 2,178,297 2,178,297
Additional paid in capital 3,346,245 3,346,245
Retained earnings 48,995,787 49,465,318
Stockholders' Equity before Treasury Stock 54,520,329 54,989,860
Shareholders' Equity:    
Common stock held in treasury, at cost - 162,517 shares at January 31, 2021 and July 31, 2020 (1,287,852) (1,287,852)
Total shareholders' equity 53,232,477 53,702,008
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 99,210,567 $ 100,419,857