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Condensed Balance Sheets - USD ($)
Oct. 31, 2024
Apr. 30, 2024
Current Assets:    
Cash and cash equivalents $ 5,454,000 $ 7,112,000
Investments and securities, at fair value 36,359,000 34,488,000
Accounts receivable:    
Trade, net of allowance for credit losses of $40,845 and $34,256 3,915,000 3,903,000
Other 31,000 66,000
Federal solar tax credit receivable 2,485,000
Inventories, net 11,082,000 11,558,000
Prepaid expenses 339,000 315,000
Total Current Assets 59,665,000 57,442,000
Property and Equipment, net, at cost 2,126,000 2,003,000
Other Assets    
Investment in Limited Land Partnership, at cost 25,000 294,000
Projects in process 10,000 13,000
Total Other Assets 35,000 307,000
Intangible Assets, net 968,000 1,028,000
TOTAL ASSETS 62,794,000 60,780,000
Current Liabilities    
Accounts payable, trade 259,000 291,000
Dividends payable 3,301,000 2,853,000
Deferred income 14,000 23,000
Accrued expenses 462,000 483,000
Income tax payable 170,000 105,000
Federal solar tax credit payable 972,000
Deferred gain on solar tax credit 142,000
Total Current Liabilities 5,320,000 3,755,000
Long-Term Liabilities    
Deferred income taxes 2,660,000 2,388,000
Total Long-Term Liabilities 2,660,000 2,388,000
Total Liabilities 7,980,000 6,143,000
Commitments and Contingencies
Stockholders’ Equity    
Convertible preferred stock, 1,000,000 shares authorized, Series 1—noncumulative, $20 stated value, 25,000 shares authorized, 4,100 issued and outstanding 99,000 99,000
Common stock, Class A, $.10 par value, 10,000,000 shares authorized, 8,502,881 shares issued and outstanding 850,000 850,000
Additional paid-in capital 1,934,000 1,934,000
Accumulated other comprehensive income 16,000 (137,000)
Retained earnings 56,860,000 56,836,000
Less: treasury stock, 3,606,151 and 3,606,151 shares, at cost (4,945,000) (4,945,000)
Total Stockholders’ Equity 54,814,000 54,637,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 62,794,000 $ 60,780,000