November 30, 2013 | ||||||||||||||||
Classified As | ||||||||||||||||
Type | Amount | Deferred Tax | Short-Term Asset | Long-Term Asset | ||||||||||||
Depreciation | $ | (980,638 | ) | $ | (361,891 | ) | $ | — | $ | (361,891 | ) | |||||
Unrealized (gain) on investments | (289,021 | ) | (106,669 | ) | (106,669 | ) | — | |||||||||
Reserve for bad debts | 56,513 | 20,855 | 20,855 | — | ||||||||||||
Reserve for returns | 2,070,223 | 763,988 | 763,988 | — | ||||||||||||
Reserve for obsolete inventory | 3,030,306 | 1,118,294 | 1,118,294 | — | ||||||||||||
Vacation accrual | 252,117 | 93,040 | 93,040 | — | ||||||||||||
Charitable contributions | 988,611 | 364,833 | 9,964 | 354,869 | ||||||||||||
Section 263A costs | 212,794 | 78,529 | 78,529 | — | ||||||||||||
Loss carry forward | 7,096,270 | 2,618,784 | 690,746 | 1,928,038 | ||||||||||||
Net deferred tax asset (liability) | $ | 4,589,763 | $ | 2,668,747 | $ | 1,921,016 | ||||||||||
November 30, 2012 | ||||||||||||||||
Classified As | ||||||||||||||||
Type | Amount | Deferred Tax | Short-Term Asset | Long-Term (Liability) | ||||||||||||
Depreciation | $ | (1,028,273 | ) | $ | (379,470 | ) | $ | — | $ | (379,470 | ) | |||||
Unrealized (gain) on investments | (55,863 | ) | (20,616 | ) | (20,616 | ) | — | |||||||||
Reserve for bad debts | 26,340 | 9,721 | 9,721 | — | ||||||||||||
Reserve for returns | 1,772,405 | 654,083 | 654,083 | — | ||||||||||||
Reserve for obsolete inventory | 671,609 | 247,849 | 247,849 | — | ||||||||||||
Vacation accrual | 323,470 | 119,372 | 119,372 | — | ||||||||||||
Charitable contributions | 722,555 | 266,649 | 126,852 | 139,797 | ||||||||||||
Section 263A costs | 285,129 | 105,223 | 105,223 | — | ||||||||||||
Net deferred tax asset (liability) | $ | 1,002,811 | $ | 1,242,484 | $ | (239,673 | ) | |||||||||