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CONDENSED BALANCE SHEETS (UNAUDITED) (USD $)
Aug. 31, 2012
Feb. 29, 2012
CURRENT ASSETS:    
Cash and cash equivalents $ 433,000 $ 760,100
Accounts receivable, less allowance for doubtful accounts and sales returns $516,800 (August 31) and $556,300 (February 29) 3,768,200 3,575,000
Inventories—Net 10,981,100 9,854,000
Prepaid expenses and other assets 196,900 277,100
Income tax receivable 21,500  
Deferred income taxes 342,000 379,800
Total current assets 15,742,700 14,846,000
INVENTORIES—Net 515,900 548,000
PROPERTY, PLANT AND EQUIPMENT—Net 1,958,600 2,000,400
INVESTMENT IN NONMARKETABLE EQUITY SECURITIES 379,400 250,000
OTHER ASSETS 301,100 301,100
DEFERRED INCOME TAXES 69,300 65,900
TOTAL ASSETS 18,967,000 18,011,400
CURRENT LIABILITIES:    
Revolving credit agreement 775,000 250,000
Accounts payable 3,094,300 1,793,900
Accrued salaries and commissions 386,000 436,700
Income taxes payable   64,200
Dividends payable 471,700 469,600
Other current liabilities 414,000 779,400
Total current liabilities 5,141,000 3,793,800
COMMITMENTS 0 0
SHAREHOLDERS’ EQUITY:    
Common stock, $0.20 par value; Authorized 8,000,000 shares; Issued 6,041,040 (August 31 and February 29) shares; Outstanding 3,931,205 (August 31) and 3,913,183 (February 29) shares 1,208,200 1,208,200
Capital in excess of par value 8,548,000 8,548,000
Retained earnings 15,671,600 16,124,900
25,427,800 25,881,100
Less treasury stock, at cost (11,601,800) (11,663,500)
13,826,000 14,217,600
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 18,967,000 $ 18,011,400