CONDENSED BALANCE SHEETS - USD ($)
|
Nov. 30, 2021 |
Feb. 28, 2021 |
| CURRENT ASSETS |
|
|
| Cash and cash equivalents |
$ 906,700
|
$ 1,812,200
|
| Accounts receivable, less allowance for doubtful accounts of $315,600 (November 30) and $331,900 (February 28) |
4,731,600
|
3,346,700
|
| Inventories - net |
69,236,200
|
51,762,400
|
| Prepaid expenses and other assets |
1,203,800
|
1,219,300
|
| Total current assets |
76,078,300
|
58,140,600
|
| INVENTORIES - net |
1,848,500
|
685,300
|
| PROPERTY, PLANT AND EQUIPMENT - net |
30,758,100
|
29,951,000
|
| DEFERRED INCOME TAX ASSET |
136,800
|
0
|
| OTHER ASSETS |
248,100
|
73,600
|
| TOTAL ASSETS |
109,069,800
|
88,850,500
|
| CURRENT LIABILITIES |
|
|
| Accounts payable |
23,064,500
|
19,674,300
|
| Line of credit |
3,019,400
|
5,245,300
|
| Deferred revenues |
1,155,700
|
2,475,900
|
| Current maturities of long-term debt |
2,525,400
|
533,500
|
| Accrued salaries and commissions |
3,559,500
|
3,488,000
|
| Dividends payable |
865,600
|
835,100
|
| Income taxes payable |
584,100
|
130,200
|
| Other current liabilities |
4,478,700
|
5,533,000
|
| Total current liabilities |
39,252,900
|
37,915,300
|
| LONG-TERM DEBT - net |
22,952,900
|
10,451,200
|
| DEFERRED INCOME TAX LIABILITY |
0
|
89,900
|
| OTHER LONG-TERM LIABILITIES |
276,000
|
134,300
|
| Total liabilities |
62,481,800
|
48,590,700
|
| SHAREHOLDERS' EQUITY |
|
|
| Common stock, $0.20 par value; Authorized 16,000,000 shares; Issued 12,702,080 (November 30) and 12,410,080 (February 28) shares; Outstanding 8,656,135 (November 30) and 8,346,600 (February 28) shares |
2,540,400
|
2,482,000
|
| Capital in excess of par value |
11,683,000
|
10,863,900
|
| Retained earnings |
45,071,900
|
39,683,000
|
|
59,295,300
|
53,028,900
|
| Less treasury stock, at cost |
(12,707,300)
|
(12,769,100)
|
| Total shareholders' equity |
46,588,000
|
40,259,800
|
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
$ 109,069,800
|
$ 88,850,500
|