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CONDENSED BALANCE SHEETS - USD ($)
May 31, 2019
Feb. 28, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 1,402,400 $ 3,199,300
Accounts receivable, less allowance for doubtful accounts of $368,800 (May 31) and $268,600 (February 28) 3,075,600 3,258,800
Inventories - Net 33,507,900 33,445,600
Prepaid expenses and other assets 1,089,900 1,603,500
Total current assets 39,075,800 41,507,200
INVENTORIES - Net 556,000 575,000
PROPERTY, PLANT AND EQUIPMENT - Net 26,927,700 27,164,600
OTHER ASSETS 72,500 19,500
TOTAL ASSETS 66,632,000 69,266,300
CURRENT LIABILITIES    
Accounts payable 12,043,700 14,228,600
Deferred revenues 388,900 965,600
Current maturities of long-term debt 944,900 945,900
Accrued salaries and commissions 1,926,700 2,039,000
Income taxes payable 1,191,500 756,400
Dividends payable 408,900 410,100
Other current liabilities 3,292,700 4,177,900
Total current liabilities 20,197,300 23,523,500
LONG-TERM DEBT - Net of current maturities 18,593,900 18,830,700
DEFERRED INCOME TAXES - Net 820,800 872,600
OTHER LONG-TERM LIABILITIES 148,600 109,000
Total liabilities 39,760,600 43,335,800
SHAREHOLDERS' EQUITY    
Common stock, $0.20 par value; Authorized 16,000,000 shares; Issued 12,092,080 (May 31 and February 28) shares; Outstanding 8,177,294 (May 31) and 8,195,082 (February 28) shares 2,418,400 2,418,400
Capital in excess of par value 9,209,500 8,975,100
Retained earnings 26,709,600 25,754,900
38,337,500 37,148,400
Less treasury stock, at cost (11,466,100) (11,217,900)
Total shareholders' equity 26,871,400 25,930,500
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 66,632,000 $ 69,266,300