XML 45 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
May 02, 2020
May 04, 2019
Cash flows from operating activities:    
Net income $ 2,950,145 $ 3,355,531
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation 78,906 74,438
Undistributed earnings in joint venture - Majestic 21 (40,270) (40,755)
Gain on disposal of property, plant and equipment   (15,242)
Stock-based compensation 1,812 11,479
Decrease in fair market value of equity investments 180,526  
Amortization of operating lease right of use assets 17,840  
Decrease (Increase) in:    
Accounts receivable 857,602 (314,091)
Inventories 44,142 (957,202)
Pre-owned homes (363,729) 127,473
Prepaid expenses and other current assets 143,771 (483,708)
Deferred income taxes 33,794 83,402
Interest receivable (93,420) (44,979)
(Decrease) increase in:    
Accounts payable (357,779) (32,160)
Accrued compensation (226,639) (81,470)
Accrued expenses and other current liabilities (688,836) 404,864
Income taxes payable (1,983,950) 38,577
Customer deposits (1,373,367) (994,829)
Net cash (used in) provided by operating activities (819,452) 1,131,328
Cash flows from investing activities:    
Purchase of property, plant and equipment (248,655) (197,259)
Purchase of certificates of deposit (20,000) (2,000,000)
Collections on interest receivable 50,998  
Collections on mortgage notes receivable 1,308 1,038
Collections on equipment and other notes receivable 33,986 22,709
Increase in cash surrender value of life insurance (96,000) (90,000)
Net cash used in investing activities (278,363) (2,263,512)
Cash flows from financing activities:    
Payment of cash dividend (3,630,970) (3,864,216)
Purchase of treasury stock (822,450) (302,115)
Reduction of operating lease obligation (6,270)  
Net cash used in financing activities (4,459,690) (4,166,331)
Decrease in cash and cash equivalents (5,557,505) (5,298,515)
Cash and cash equivalents at beginning of year 22,533,965 28,364,861
Cash and cash equivalents at end of quarter 16,976,460 23,066,346
Supplemental disclosure of cash flows information:    
Income taxes paid $ 2,965,000 $ 1,019,000