CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
|
3 Months Ended |
May 31, 2021 |
May 31, 2020 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net earnings |
$ 3,438,100
|
$ 1,931,100
|
| Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: |
|
|
| Depreciation |
432,000
|
409,900
|
| Deferred income taxes |
237,500
|
91,200
|
| Provision for doubtful accounts |
37,600
|
67,800
|
| Provision for inventory valuation allowance |
60,000
|
80,000
|
| Share-based compensation expense |
261,600
|
169,000
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
(665,100)
|
348,900
|
| Inventories, net |
(4,928,000)
|
3,080,800
|
| Prepaid expenses and other assets |
(235,400)
|
29,100
|
| Accounts payable |
(577,400)
|
1,385,200
|
| Accrued salaries and commissions and other liabilities |
(3,617,900)
|
2,373,300
|
| Deferred revenues |
(287,100)
|
2,026,800
|
| Income taxes payable |
967,700
|
602,100
|
| Total adjustments |
(8,314,500)
|
10,664,100
|
| Net cash provided by (used in) operating activities |
(4,876,400)
|
12,595,200
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Purchases of property, plant and equipment |
(1,617,200)
|
(143,800)
|
| Net cash used in investing activities |
(1,617,200)
|
(143,800)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Payments on term debt |
(142,300)
|
(1,710,800)
|
| Proceeds from term debt |
3,896,200
|
1,447,400
|
| Sales of treasury stock |
32,000
|
71,000
|
| Purchases of treasury stock |
0
|
(75,500)
|
| Net borrowings under line of credit |
3,487,200
|
0
|
| Dividends paid |
(835,100)
|
(417,400)
|
| Net cash provided by (used in) financing activities |
6,438,000
|
(685,300)
|
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
(55,600)
|
11,766,100
|
| CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
1,812,200
|
2,999,400
|
| CASH AND CASH EQUIVALENTS - END OF PERIOD |
1,756,600
|
14,765,500
|
| SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION |
|
|
| Cash paid for interest |
152,400
|
184,600
|
| Cash paid for income taxes |
$ 17,200
|
$ 19,500
|