XML 23 R2.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
CURRENT ASSETS    
Cash and cash equivalents $ 8,820,331 $ 8,761,925
Restricted cash 5,063,219 1,069,181
Short-term investments 205,025 204,525
Accounts receivable, net of allowance of $22,294 for both periods 574,653 192,674
Inventory 356,881 231,545
Prepaid expenses 501,523 541,822
Deferred income taxes 250,500 265,900
Due from Minnesota horsemen associations   125,828
Total current assets 15,772,132 11,393,400
LONG-TERM ASSETS    
Deposits 26,400 26,400
Land, buildings and equipment, net of accumulated depreciation of $25,023,041 and $24,010,738, respectively 30,381,808 28,075,879
Total assets 46,180,340 39,495,679
CURRENT LIABILITIES    
Accounts payable 7,536,684 2,174,466
Card Casino accruals 1,889,876 1,401,336
Accrued wages and payroll taxes 1,201,466 1,198,705
Cash dividend payable 1,055,720  
Accrued property taxes 653,790 653,385
Income taxes payable 60,498 388,910
Payable to horsepersons 284,155 211,571
Total current liabilities 12,682,189 6,028,373
LONG-TERM LIABILITIES    
Deferred income taxes 1,731,600 1,972,400
Stock appreciation rights 641,420 499,734
Total long-term liabilities 2,373,020 2,472,134
Total Liabilities 15,055,209 8,500,507
STOCKHOLDERS' EQUITY    
Common stock, $.01 par value, 10,000,000 shares authorized, 4,224,136 and 4,201,371, respectively, shares issued and outstanding 42,102 42,013
Additional paid-in capital 17,814,339 17,589,349
Retained earnings 13,268,690 13,363,810
Total stockholders' equity 31,125,131 30,995,172
Total liabilities and stockholders' equity $ 46,180,340 $ 39,495,679