CONDENSED BALANCE SHEETS - USD ($)
|
May 31, 2020 |
Feb. 29, 2020 |
| CURRENT ASSETS |
|
|
| Cash and cash equivalents |
$ 14,765,500
|
$ 2,999,400
|
| Accounts receivable, less allowance for doubtful accounts of $296,100 (May 31) and $237,400 (February 29) |
2,550,500
|
2,967,200
|
| Inventories - net |
27,162,400
|
30,087,300
|
| Income taxes receivable |
0
|
221,700
|
| Prepaid expenses and other assets |
889,900
|
950,600
|
| Total current assets |
45,368,300
|
37,226,200
|
| INVENTORIES - net |
780,800
|
1,016,700
|
| PROPERTY, PLANT AND EQUIPMENT - net |
26,111,600
|
26,377,700
|
| OTHER ASSETS |
113,800
|
82,200
|
| TOTAL ASSETS |
72,374,500
|
64,702,800
|
| CURRENT LIABILITIES |
|
|
| Accounts payable |
11,046,300
|
9,661,100
|
| Deferred revenues |
2,412,100
|
385,300
|
| Current maturities of long-term debt |
1,126,100
|
1,027,400
|
| Accrued salaries and commissions |
3,685,800
|
1,657,200
|
| Income taxes payable |
380,400
|
0
|
| Dividends payable |
502,200
|
417,400
|
| Other current liabilities |
3,585,700
|
3,238,200
|
| Total current liabilities |
22,738,600
|
16,386,600
|
| LONG-TERM DEBT - net of current maturities |
17,422,200
|
17,784,300
|
| DEFERRED INCOME TAXES - net |
1,084,500
|
993,300
|
| OTHER LONG-TERM LIABILITIES |
143,000
|
145,800
|
| Total liabilities |
41,388,300
|
35,310,000
|
| SHAREHOLDERS' EQUITY |
|
|
| Common stock, $0.20 par value; Authorized 16,000,000 shares; Issued 12,410,080 (May 31) and 12,410,080 (February 29) shares; Outstanding 8,352,253 (May 31) and 8,348,651 (February 29) shares |
2,482,000
|
2,482,000
|
| Capital in excess of par value |
10,017,900
|
9,843,900
|
| Retained earnings |
31,161,100
|
29,732,200
|
|
43,661,000
|
42,058,100
|
| Less treasury stock, at cost |
(12,674,800)
|
(12,665,300)
|
| Total shareholders' equity |
30,986,200
|
29,392,800
|
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
$ 72,374,500
|
$ 64,702,800
|