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Note 7 - Assets Available for Sale and Assets Held for Lease | 12 Months Ended
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Nov. 30, 2017
Notes to Financial Statements |
Disclosure of Assets Available for Sale, Not Part of Discontinued Operations [Text Block] |
( 7 ) | Assets Available for Sale and Assets Held for Lease
Major components of assets available for sale (excluding assets of discontinued operations as discussed in Note 2 “Discontinued Operations”) are:
|  | November 30, 2017 |  |  | November 30, 2016 |
Ames, Iowa powder coat paint system |  | $ | - |  |  | $ | 70,000 |
|  | $ | - |  |  | $ | 70,000 |
Due to reduced demand for the Company’s reels produced by the Universal Harvester by Art’s Way subsidiary, the Company has been able to absorb the production of the reels in its Armstrong, Iowa facility. The Company continues to hold its powder coat system previously used in its Ames, Iowa location as available for sale. During fiscal 2017, the Company recognized an impairment of $70,000 related to this asset due to its inability to find a buyer for this type of specialized equipment. During fiscal 2016, the Company had recognized an impairment of $44,858 related to this asset based on a previous offer. Major components of assets held for lease are:
|  | November 30, 2017 |  |  | November 30, 2016 |
West Union Facility |  | $ | 1,118,330 |  |  | $ | - |
Modular Buildings |  |  | 98,834 |  |  |  | - |
|  | $ | 1,217,164 |  |  | $ | - |
The Company currently leases more than half the West Union facility to third parties for storage purposes. The Company ’s Modular Buildings segment enters into leasing arrangements with customers from time-to-time. A small leased facility was put into service in the third quarter of fiscal 2017.

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