Sale of property (Tables)

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Schedule of sale of property

The loss realized on the disposal was calculated as follows:

	Amount
Proceeds received	$	4,975,174
Less: closing costs		(182,344	)
Provision for additional expenses		(36,470	)
Net proceeds received		4,756,360
Assets sold:
Land		2,753,928
Buildings thereon, net of depreciation		2,949,452
Furniture and fixtures, net of depreciation		72,792
		5,776,172
Loss on disposal of property	$	1,019,812