FINANCING AGREEMENTS (Tables)

3 Months Ended

Jul. 31, 2016

FINANCING AGREEMENTS

Summary of the notes within the financing agreement

		July 31, 2016		April 30, 2016
4.05% mortgage note payable in monthly installments of $4,873, including interest, with final payment of $349,000 due January 27, 2019	$	446,000	$	456,000
4.00% line of credit with a maturity date of September 27, 2016		-		-
Borrowings under an equipment financing line of credit:
4.75% note payable in monthly installments of $2,269, including interest, with final payment due May 27, 2018		47,000		53,000
3.75% note payable in monthly installments of $2,112, including interest, with final payment due April 10, 2018		43,000		49,000
Total long-term debt		536,000		558,000
Less current installments		91,000		90,000
Long-term debt, excluding current installments	$	445,000	$	468,000