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Balance Sheets (USD $)
May 31, 2012
May 31, 2011
Current assets:    
Cash and cash equivalents $ 73,952 $ 2,193,534
Accounts receivable, net (Note 2) 5,610,328 2,136,848
Inventory (Note 3) 8,372,535 5,352,424
Prepaid expenses 482,317 539,900
Prepaid income taxes    239,030
Costs and estimated earnings in excess of billings (Note 4) 5,492,028 4,189,799
Deferred income taxes (Note 10) 950,400 818,900
Total current assets 20,981,560 15,470,435
Maintenance and other inventory, net (Note 5) 844,834 846,177
Property and equipment, net (Note 6) 4,481,953 3,413,446
Cash value of life insurance, net 153,550 147,970
Total assets 26,461,897 19,878,028
Current liabilities:    
Short-term borrowings (Note 7) 258,000   
Current portion of long-term debt (Note 8) 3,657 5,485
Accounts payable 3,361,742 1,292,095
Accrued commissions 631,221 433,355
Other accrued expenses 2,116,755 1,329,341
Billings in excess of costs and estimated earnings (Note 4) 668,900 152,505
Accrued income taxes 140,977   
Total current liabilities 7,181,252 3,212,781
Long-term debt (Note 8)    3,657
Deferred income taxes (Note 10) 283,985 278,485
Stockholders' Equity:    
Common stock, $.025 par value, authorized 8,000,000 shares, issued 3,839,819 and 3,732,842 shares 95,995 93,321
Paid-in capital 7,276,694 6,627,463
Retained earnings 14,122,954 11,924,023
Treasury stock - 530,143 and 501,643 shares at cost (2,498,983) (2,261,702)
Total stockholders' equity 18,996,660 16,383,105
Total liabilities and stockholders' equity $ 26,461,897 $ 19,878,028