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Consolidated Balance Sheets (Unaudited) - USD ($)
Apr. 30, 2022
Jul. 31, 2021
Property and Equipment-at cost:    
Land $ 6,067,805 $ 6,067,805
Buildings held for leasing:    
Buildings, improvements and fixtures 75,549,098 74,547,096
Construction in progress 2,565,884 2,244,959
Property, Plant and Equipment, Gross 78,114,982 76,792,055
Accumulated depreciation (36,038,604) (34,793,458)
Buildings - net 42,076,378 41,998,597
Property and equipment-net 48,144,183 48,066,402
Cash and cash equivalents 1,909,732 1,552,389
Restricted cash 1,067,122 882,330
Receivables, net 2,443,437 2,416,769
Marketable securities 3,374,954 3,901,093
Prepaids and other assets 1,218,712 2,384,727
Deferred charges, net 3,344,733 3,739,243
Operating lease right-of-use assets 32,656,027 34,566,169
TOTAL ASSETS 94,158,900 97,509,122
Liabilities:    
Mortgages payable 6,653,458 7,518,777
Accounts payable and accrued expenses 1,875,909 2,632,905
Security deposits payable 985,263 834,470
Operating lease liabilities 26,843,847 27,840,930
Deferred income taxes 4,344,000 4,582,000
Total Liabilities 40,702,477 43,409,082
Shareholders’ Equity:    
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 49,219,733 49,863,350
Stockholders' Equity before Treasury Stock 54,744,275 55,387,892
Common stock held in treasury, at cost - 162,517 shares at April 30, 2022 and July 31, 2021 (1,287,852) (1,287,852)
Total shareholders’ equity 53,456,423 54,100,040
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 94,158,900 $ 97,509,122