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BALANCE SHEETS - USD ($)
Feb. 28, 2019
Feb. 28, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 3,199,300 $ 2,723,300
Accounts receivable, less allowance for doubtful accounts of $268,600 (2019) and $297,100 (2018) 3,258,800 2,913,700
Inventories - Net 33,445,600 26,618,600
Prepaid expenses and other assets 1,603,500 1,259,000
Total current assets 41,507,200 33,514,600
INVENTORIES - Net 575,000 435,900
PROPERTY, PLANT AND EQUIPMENT - Net 27,164,600 27,860,500
OTHER ASSETS 19,500 26,900
TOTAL ASSETS 69,266,300 61,837,900
CURRENT LIABILITIES:    
Accounts payable 14,228,600 12,469,000
Deferred revenues 965,600 693,000
Current maturities of long-term debt 945,900 881,200
Accrued salaries and commissions 2,039,000 2,007,900
Income taxes payable 756,400 1,798,800
Dividends payable 410,100 0
Other current liabilities 4,177,900 3,517,900
Total current liabilities 23,523,500 21,367,800
LONG-TERM DEBT - Net of current maturities 18,830,700 19,825,100
DEFERRED INCOME TAXES - Net 872,600 136,900
OTHER LONG-TERM LIABILITIES 109,000 106,000
Total liabilities 43,335,800 41,435,800
COMMITMENTS (Note 7)
SHAREHOLDERS' EQUITY:    
Common stock, $0.20 par value; Authorized 16,000,000 shares; Issued 12,092,080 shares; Outstanding 8,195,082 (2019) and 8,179,612 (2018) shares 2,418,400 2,418,400
Capital in excess of par value 8,975,100 8,573,300
Retained earnings 25,754,900 20,714,500
37,148,400 31,706,200
Less treasury stock, at cost (11,217,900) (11,304,100)
Total shareholders' equity 25,930,500 20,402,100
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 69,266,300 $ 61,837,900