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Note 7 - Assets Held for Lease | 12 Months Ended
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Nov. 30, 2024
Notes to Financial Statements |
Disclosure of Assets Available for Sale, Not Part of Discontinued Operations [Text Block] |
(7) | Assets Held for Lease
Major components of assets held for lease are:
|  | November 30, 2024 |  |  | November 30, 2023 |
Modular Buildings |  | $ | 89,033 |  |  | $ | 145,494 |
Total assets held for lease |  | $ | 89,033 |  |  | $ | 145,494 |
The Company’s Modular Buildings segment enters into leasing arrangements with customers from time-to-time. The Company had four buildings in assets held for lease for the years ending November 30, 2024 and November 30, 2023. Two modular buildings were sold in fiscal 2023 for $278,915. The Company recognized a gain on the sale of assets held for lease of approximately of $114,156 in fiscal 2023. Rents recognized in sales were related to the leasing of modular buildings as a part of the normal course of business operations of the Modular Buildings segment. There were $203,388 of rents recognized from assets held for lease included in sales on the Consolidated Statements of Operations during the 2024 fiscal year compared to $111,669 in the 2023 fiscal year. The future minimum lease receipts from assets held for lease on November 30, 2024 are as follows:
Year Ending November 30, |  | Amount |
2025 |  | $ | 79,720 |
Total |  | $ | 79,720 |

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