XML 12 R2.htm IDEA: XBRL DOCUMENT v3.22.2
CONDENSED BALANCE SHEETS - USD ($)
May 31, 2022
Feb. 28, 2022
CURRENT ASSETS    
Cash and cash equivalents $ 1,419,400 $ 361,200
Accounts receivable, less allowance for doubtful accounts of $265,000 (May 31) and $336,700 (February 28) 3,842,900 3,638,800
Inventories - net 66,699,500 71,553,600
Prepaid expenses and other assets 1,021,600 960,500
Total current assets 72,983,400 76,514,100
INVENTORIES - net 3,851,600 2,055,300
PROPERTY, PLANT AND EQUIPMENT - net 29,997,100 30,484,000
DEFERRED INCOME TAX ASSET 117,300 118,700
OTHER ASSETS 728,000 761,600
TOTAL ASSETS 107,677,400 109,933,700
CURRENT LIABILITIES    
Accounts payable 6,712,800 12,411,800
Line of credit 22,508,900 17,723,500
Deferred revenues 1,718,000 681,600
Current maturities of long-term debt 2,517,500 2,542,200
Accrued salaries and commissions 1,620,500 1,890,200
Dividends payable   870,700
Income taxes payable 279,100 241,900
Other current liabilities 2,718,900 3,897,900
Total current liabilities 38,075,700 40,259,800
LONG-TERM DEBT - net 21,820,100 22,409,500
OTHER LONG-TERM LIABILITIES 475,300 498,900
Total liabilities 60,371,100 63,168,200
SHAREHOLDERS' EQUITY    
Common stock, $0.20 par value; Authorized 16,000,000 shares; Issued 12,702,080 (May 31 and February 28) shares; Outstanding 8,698,838 (May 31) and 8,707,247 (February 28) shares 2,540,400 2,540,400
Capital in excess of par value 12,642,900 12,246,600
Retained earnings 44,740,900 44,525,100
59,924,200 59,312,100
Less treasury stock, at cost (12,617,900) (12,546,600)
Total shareholders' equity 47,306,300 46,765,500
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 107,677,400 $ 109,933,700