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Consolidated Balance Sheets (Unaudited) - USD ($)
Oct. 31, 2024
Jul. 31, 2024
Property and Equipment-at cost:    
Land $ 6,067,805 $ 6,067,805
Buildings held for leasing:    
Buildings, improvements, and fixtures 80,549,001 79,510,142
Construction in progress 1,808,452 2,387,207
Property, plant and equipment, gross 82,357,453 81,897,349
Accumulated depreciation (40,247,440) (39,803,374)
Buildings - net 42,110,013 42,093,975
Property and equipment-net 48,177,818 48,161,780
Cash and cash equivalents 2,316,114 1,243,977
Restricted cash 975,959 1,041,624
Receivables, net 3,421,635 3,582,225
Prepaids and other assets 1,693,670 3,048,044
Deferred charges, net 3,562,152 3,580,585
Operating lease right-of-use assets 28,346,470 28,866,800
TOTAL ASSETS 88,493,818 89,525,035
Liabilities:    
Mortgages payable, net 3,547,709 3,874,246
Accounts payable and accrued expenses 1,880,537 2,271,963
Security deposits payable 1,043,557 1,077,964
Operating lease liabilities 24,998,221 25,309,725
Deferred income taxes 4,099,000 4,093,000
Total Liabilities 35,569,024 36,626,898
Shareholders’ Equity:    
Common stock, par value $1 each share (shares-5,000,000 authorized; 2,178,297 issued) 2,178,297 2,178,297
Additional paid in capital 3,346,245 3,346,245
Retained earnings 48,688,104 48,661,447
Stockholders' equity before treasury stock 54,212,646 54,185,989
Common stock held in treasury, at cost - 162,517 shares at October 31, 2024 and July 31, 2024 (1,287,852) (1,287,852)
Total shareholders’ equity 52,924,794 52,898,137
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 88,493,818 $ 89,525,035