XML 15 R2.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Balance Sheets - USD ($)
Jul. 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 79,510,142 77,703,358
Construction in progress 2,387,207 1,767,444
Property, Plant and Equipment, Gross 81,897,349 79,470,802
Accumulated depreciation (39,803,374) (38,123,199)
Buildings held for leasing – net 42,093,975 41,347,603
Property and equipment-net 48,161,780 47,415,408
Cash and cash equivalents 1,243,977 1,215,921
Restricted cash 1,041,624 1,001,814
Receivables, net 3,582,225 3,044,190
Marketable securities 2,300,441
Prepaids and other assets 3,048,044 2,773,004
Deferred charges, net 3,580,585 3,250,700
Operating lease right-of-use assets 28,866,800 30,913,904
TOTAL ASSETS 89,525,035 91,915,382
Liabilities:    
Mortgages payable 3,874,246 5,144,205
Accounts payable and accrued expenses 2,271,963 1,718,435
Security deposits payable 1,077,964 1,005,925
Operating lease liabilities 25,309,725 26,512,112
Deferred income taxes 4,093,000 4,230,000
Total liabilities 36,626,898 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 48,661,447 49,068,015
Stockholders' Equity before Treasury Stock 54,185,989 54,592,557
Common stock held in treasury, at cost - 162,517 shares at July 31, 2024 and July 31, 2023 (1,287,852) (1,287,852)
Total Shareholders’ Equity 52,898,137 53,304,705
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 89,525,035 $ 91,915,382