XML 14 R7.htm IDEA: XBRL DOCUMENT v3.24.2
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
May 04, 2024
May 06, 2023
Cash flows from operating activities:    
Net income $ 4,364,396 $ 5,915,816
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 78,510 78,558
Deferred income taxes (23,238) (82,697)
Undistributed earnings in joint venture - Majestic 21 (42,709) (48,448)
Return on investment in joint venture-Majestic 21 1,600,889 0
(Increase) decrease in fair market value of equity investments (101,543) 129,017
Stock-based compensation 82,179 56,626
Decrease (increase) in:    
Accounts receivable - trade 784,588 300,075
Inventories 312,681 127,829
Prepaid expenses and other current assets 44,138 448,989
Interest receivable (261,300) (95,399)
(Decrease) increase in:    
Accounts payable 229,960 114,845
Accrued compensation (91,385) 103,268
Accrued expenses and other current liabilities (589,492) (68,644)
Income taxes payable 34,927 766,086
Customer deposits (2,733,836) (1,440,267)
Net cash provided by operating activities 3,688,765 6,305,654
Cash flows from investing activities:    
Purchase of property, plant and equipment (143,576) (399,668)
Purchase certificates of deposit (5,304,000) (4,360,000)
Purchase of property held for resale 0 (26,590)
Proceeds from certificates of deposit 3,392,000 486,000
Collections on interest receivable 138,398 11,932
Collections on mortgage notes receivable 173 277
Collections on equipment and other notes receivable 0 11,418
Increase in cash surrender value of life insurance (88,050) (88,050)
Net cash used in investing activities (2,005,055) (4,364,681)
Cash flows from financing activities:    
Payment of cash dividend (4,903,243) (3,370,912)
Purchase of treasury stock 0 (56,241)
Net cash used in financing activities (4,903,243) (3,427,153)
Decrease in cash and cash equivalents (3,219,533) (1,486,180)
Cash and cash equivalents at beginning of period 13,879,358 16,653,449
Cash and cash equivalents at end of period 10,659,825 15,167,269
Supplemental financing activity:    
Income taxes paid $ 1,470,000 $ 1,325,000