XML 13 R2.htm IDEA: XBRL DOCUMENT v3.7.0.1
BALANCE SHEETS - USD ($)
Feb. 28, 2017
Feb. 29, 2016
CURRENT ASSETS:    
Cash and cash equivalents $ 699,200 $ 1,183,700
Accounts receivable, less allowance for doubtful accounts and sales returns $675,000 (2017) and $501,900 (2016) 2,917,000 2,513,300
Inventories—Net 34,253,100 17,479,500
Prepaid expenses and other assets 695,200 1,028,100
Deferred income taxes 466,600 298,200
Total current assets 39,031,100 22,502,800
INVENTORIES—Net 192,100 169,000
PROPERTY, PLANT AND EQUIPMENT—Net 27,034,300 26,710,300
OTHER ASSETS 61,400 262,000
DEFERRED INCOME TAXES 0 50,900
TOTAL ASSETS 66,318,900 49,695,000
CURRENT LIABILITIES:    
Accounts payable 17,565,300 7,801,300
Line of credit 4,882,900 3,331,800
Deferred revenues 633,100 2,925,200
Current maturities of long-term debt 898,500 615,400
Accrued salaries and commissions 1,379,700 1,202,500
Income taxes payable 1,519,400 803,100
Dividends payable 0 366,300
Other current liabilities 3,218,200 1,732,500
Total current liabilities 30,097,100 18,778,100
LONG-TERM DEBT—Net of current maturities 20,665,800 17,687,400
DEFERRED INCOME TAX LIABILITY 338,600 0
Total liabilities 51,101,500 36,465,500
COMMITMENTS (Note 8)
SHAREHOLDERS’ EQUITY:    
Common stock, $0.20 par value; Authorized 8,000,000 shares; Issued 6,041,040 shares; Outstanding 4,090,074 (2017) and 4,064,610 (2016) shares 1,208,200 1,208,200
Capital in excess of par value 8,548,000 8,548,000
Retained earnings 16,317,800 14,557,500
26,074,000 24,313,700
Less treasury stock, at cost (10,856,600) (11,084,200)
Total shareholders' equity 15,217,400 13,229,500
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 66,318,900 $ 49,695,000