CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
|
9 Months Ended |
Nov. 30, 2021 |
Nov. 30, 2020 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net earnings |
$ 7,982,900
|
$ 10,455,700
|
| Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: |
|
|
| Depreciation |
1,518,700
|
1,207,900
|
| Deferred income taxes |
(226,700)
|
(809,800)
|
| Provision for doubtful accounts |
91,800
|
115,800
|
| Provision for inventory valuation allowance |
180,000
|
166,200
|
| Share-based compensation expense |
784,900
|
677,000
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
(1,476,700)
|
(1,264,200)
|
| Inventories, net |
(18,817,000)
|
(17,130,200)
|
| Prepaid expenses and other assets |
(159,000)
|
(239,200)
|
| Accounts payable |
4,451,400
|
35,498,700
|
| Accrued salaries and commissions and other liabilities |
(841,100)
|
8,598,200
|
| Deferred revenues |
(1,320,200)
|
2,128,400
|
| Income taxes payable |
453,900
|
213,300
|
| Total adjustments |
(15,360,000)
|
29,162,100
|
| Net cash provided by (used in) operating activities |
(7,377,100)
|
39,617,800
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Purchases of property, plant and equipment |
(3,387,100)
|
(2,040,000)
|
| Net cash used in investing activities |
(3,387,100)
|
(2,040,000)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Payments on term debt |
(751,100)
|
(9,144,300)
|
| Proceeds from term debt |
15,244,700
|
1,447,400
|
| Sales of treasury stock |
154,400
|
109,300
|
| Purchases of treasury stock |
0
|
(75,500)
|
| Net payments on line of credit |
(2,225,900)
|
0
|
| Dividends paid |
(2,563,400)
|
(1,419,800)
|
| Net cash provided by (used in) financing activities |
9,858,700
|
(9,082,900)
|
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
(905,500)
|
28,494,900
|
| CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
1,812,200
|
2,999,400
|
| CASH AND CASH EQUIVALENTS - END OF PERIOD |
906,700
|
31,494,300
|
| SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION |
|
|
| Cash paid for interest |
606,300
|
463,600
|
| Cash paid for income taxes |
$ 2,708,000
|
$ 3,789,500
|