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Consolidated Balance Sheets (Unaudited) - USD ($)
Jan. 31, 2024
Jul. 31, 2023
Property and Equipment-at cost:    
Land $ 6,067,805 $ 6,067,805
Buildings held for leasing:    
Buildings, improvements, and fixtures 78,025,569 77,703,358
Construction in progress 2,276,626 1,767,444
Property, Plant and Equipment, Gross 80,302,195 79,470,802
Accumulated depreciation (38,935,606) (38,123,199)
Buildings held for leasing - net 41,366,589 41,347,603
Property and equipment-net 47,434,394 47,415,408
Cash and cash equivalents 691,515 1,215,921
Restricted cash 1,055,925 1,001,814
Receivables, net 3,142,165 3,044,190
Marketable securities 2,165,087 2,300,441
Prepaids and other assets 2,492,647 2,773,004
Deferred charges, net 3,703,834 3,250,700
Operating lease right-of-use assets 29,897,097 30,913,904
TOTAL ASSETS 90,582,664 91,915,382
Liabilities:    
Mortgages payable 4,516,539 5,144,205
Accounts payable and accrued expenses 1,898,342 1,718,435
Security deposits payable 1,053,901 1,005,925
Operating lease liabilities 25,920,780 26,512,112
Deferred income taxes 4,179,000 4,230,000
Total Liabilities 37,568,562 38,610,677
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 48,777,412 49,068,015
Stockholders' Equity before Treasury Stock 54,301,954 54,592,557
Common stock held in treasury, at cost - 162,517 shares at January 31, 2024 and July 31, 2023 (1,287,852) (1,287,852)
Total shareholders’ equity 53,014,102 53,304,705
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 90,582,664 $ 91,915,382