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Consolidated Balance Sheets (Unaudited) - USD ($)
Jan. 31, 2023
Jul. 31, 2022
ASSETS    
Land $ 6,067,805 $ 6,067,805
Buildings held for leasing:    
Buildings, improvements and fixtures 77,613,513 75,794,089
Construction in progress 1,655,117 2,653,212
Property, Plant and Equipment, Gross 79,268,630 78,447,301
Accumulated depreciation (37,298,759) (36,457,448)
Buildings - net 41,969,871 41,989,853
Property and equipment-net 48,037,676 48,057,658
Cash and cash equivalents 1,352,944 1,020,585
Restricted cash 985,574 1,049,312
Receivables, net 2,580,476 2,771,121
Marketable securities 2,645,818 2,761,069
Prepaids and other assets 2,370,913 2,628,570
Deferred charges, net 3,390,640 3,614,640
Operating lease right-of-use assets 30,815,877 32,108,363
TOTAL ASSETS 92,179,918 94,011,318
Liabilities:    
Mortgages payable 5,758,520 6,358,289
Accounts payable and accrued expenses 1,704,035 2,321,764
Security deposits payable 978,426 1,051,428
Operating lease liabilities 25,925,013 26,600,168
Deferred income taxes 4,322,000 4,292,000
Total Liabilities 38,687,994 40,623,649
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 49,255,234 49,150,979
Stockholders' Equity before Treasury Stock 54,779,776 54,675,521
Common stock held in treasury, at cost - 162,517 shares at January 31, 2023 and July 31, 2022 (1,287,852) (1,287,852)
Total shareholders’ equity 53,491,924 53,387,669
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 92,179,918 $ 94,011,318