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Consolidated Balance Sheets (Unaudited) - USD ($)
Jan. 31, 2025
Jul. 31, 2024
Property and Equipment-at cost:    
Land $ 6,067,805 $ 6,067,805
Buildings held for leasing:    
Buildings, improvements, and fixtures 81,014,135 79,510,142
Construction in progress 1,546,063 2,387,207
Property, Plant and Equipment, Other, Gross 82,560,198 81,897,349
Accumulated depreciation (40,692,714) (39,803,374)
Buildings - net 41,867,484 42,093,975
Property and equipment-net 47,935,289 48,161,780
Cash and cash equivalents 1,490,663 1,243,977
Restricted cash 975,959 1,041,624
Receivables, net 3,926,144 3,582,225
Prepaids and other assets 2,731,691 3,048,044
Deferred charges, net 3,464,028 3,580,585
Operating lease right-of-use assets 27,822,627 28,866,800
TOTAL ASSETS 88,346,401 89,525,035
Liabilities:    
Mortgages payable, net 3,314,021 3,874,246
Accounts payable and accrued expenses 2,485,158 2,271,963
Security deposits payable 1,044,777 1,077,964
Operating lease liabilities 24,682,332 25,309,725
Deferred income taxes 4,053,000 4,093,000
Total Liabilities 35,579,288 36,626,898
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 48,530,423 48,661,447
Stockholders' equity before treasury stock 54,054,965 54,185,989
Common stock held in treasury, at cost - 162,517 shares at January 31, 2025 and July 31, 2024 (1,287,852) (1,287,852)
Total shareholders’ equity 52,767,113 52,898,137
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 88,346,401 $ 89,525,035