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Note 2 - Discontinued Operations
 12 Months Ended
Nov. 30, 2016
Notes to Financial Statements  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]
(2)
Discontinued Operations
 
On
August
11,
2016,
the Company announced its plan to discontinue the operations of its Art’s Way Vessels segment in order to focus its efforts and resources on the business segments that have historically been more successful and that are expected to present greater opportunities for meaningful long-term shareholder returns. We intend to dispose of the segment’s assets, including remaining inventory and real estate, during the
2017
fiscal year.
 
As Vessels was a unique business unit of the Company, its liquidation will be a strategic shift. In accordance with Accounting Standard Code Topic
360,
the Company has classified Vessels as discontinued operations for all periods presented.
 
Income from discontinued operations, before income taxes in the accompanying Consolidated Statements of Operations, is comprised of the following:
 
   
Twelve Months Ended
  
   
November 30, 2016
    
November 30, 2015
  
Revenue from external customers
   $
1,598,330
    $
1,609,638
  
Gross Profit
    
(198,567
 )    
71,908
 
Operating Expense
    
399,503
     
398,759
 
Income (loss) from operations
    
(598,070
 )    
(326,850
 )
Income (loss) before tax
    
(617,425
 )    
(354,562
 )
 
 
 
 
The components of discontinued operations in the accompanying consolidated balance sheets are as follows:
 
 
 
November 30, 2016
 
 
November 30, 2015
 
Cash
  $
-
    $
103
 
Accounts Receivable – Net
    
9,700
     
175,211
 
Inventories, net
    
-
     
514,647
 
Property, plant, and equipment, net
    
1,745,528
     
1,870,649
 
Other Assets
    
-
     
4,595
 
Assets of discontinued operations
   $
1,755,228
    $
2,565,205
 
                 
Accounts payable
   $
1,588
    $
26,531
 
Accrued compensation
    
-
     
33,431
 
Accrued expenses
   
50,061
     
58,948
 
Notes Payable
    
715,945
     
842,769
 
Liabilities of discontinued operations
   $
767,594
    $
961,679