Note 14 - Income Taxes (Tables)
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12 Months Ended |
Feb. 29, 2020 |
| Notes Tables |
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| Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
| | | 2020 | | | 2019 | | | 2018 | | | Current | | | | | | | | | | | | | | Federal | | $ | 306,000 | | | $ | 653,226 | | | $ | 1,916,720 | | | State | | | 85,157 | | | | 142,570 | | | | 220,164 | | | Total Current | | | 391,157 | | | | 795,796 | | | | 2,136,884 | | | | | | | | | | | | | | | | | Deferred | | | | | | | | | | | | | | Federal | | | (19,350 | ) | | | (67,410 | ) | | | 55,658 | | | State | | | (3,307 | ) | | | (11,524 | ) | | | (32,247 | ) | | Total Deferred | | | (22,657 | ) | | | (78,934 | ) | | | 23,411 | | | Total | | $ | 368,500 | | | $ | 716,862 | | | $ | 2,160,295 | |
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| Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
| | | 2020 | | | 2019 | | | 2018 | | | Statutory rate | | | 21.0 | % | | | 21.0 | % | | | 31.9 | % | | State income taxes, net of federal benefit | | | 4.6 | % | | | 3.4 | % | | | 2.4 | % | | Domestic production deduction | | | 0.0 | % | | | 0.0 | % | | | (0.9 | )% | | Work opportunity tax credits | | | (1.1 | )% | | | (0.7 | )% | | | (0.2 | )% | | Equity compensation tax expense | | | 1.4 | % | | | 0.0 | % | | | 0.0 | % | | Other | | | 0.4 | % | | | 0.5 | % | | | 0.8 | % | | Impact of tax reform | | | 0.0 | % | | | 0.0 | % | | | 8.2 | % | | Effective rate - provision (benefit) | | | 26.3 | % | | | 24.2 | % | | | 42.2 | % |
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| Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
| | | 2020 | | | 2019 | | | Deferred Tax Assets | | | | | | | | | | Allowance for doubtful accounts and notes | | $ | 157,107 | | | $ | 120,368 | | | Inventories | | | 78,724 | | | | 91,265 | | | Accrued compensation | | | 137,786 | | | | 87,930 | | | Loss provisions and deferred income | | | 397,535 | | | | 492,468 | | | Self-insurance accrual | | | 37,623 | | | | 34,426 | | | Amortization | | | 299,373 | | | | 217,481 | | | Restructuring charges | | | 98,693 | | | | 98,693 | | | U-Swirl accumulated net loss | | | 401,699 | | | | 325,253 | | | Valuation allowance | | | (98,693 | ) | | | (98,693 | ) | | Net deferred tax assets | | $ | 1,509,847 | | | $ | 1,369,191 | | | | | | | | | | | | | Deferred Tax Liabilities | | | | | | | | | | Depreciation and amortization | | | (779,023 | ) | | | (682,542 | ) | | Prepaid expenses | | | (100,746 | ) | | | (79,228 | ) | | Deferred Tax Liabilities | | | (879,769 | ) | | | (761,770 | ) | | | | | | | | | | | | Net deferred tax assets | | $ | 630,078 | | | $ | 607,421 | |
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| Summary of Valuation Allowance [Table Text Block] |
| | | 2020 | | | 2019 | | | Valuation allowance at beginning of period | | $ | 98,693 | | | $ | 98,728 | | | Tax expense (benefits) realized by valuation allowance | | | - | | | | (35 | ) | | Tax benefits released from valuation allowance | | | - | | | | - | | | Impact of tax reform | | | - | | | | - | | | Valuation allowance at end of period | | $ | 98,693 | | | $ | 98,693 | |
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