Note 6 - Income Taxes (Tables)

12 Months Ended

Feb. 28, 2017

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2017		2016			2015
Current
Federal	$	1,411,126	$	1,420,811		$	1,846,365
State		272,214		195,993			246,398
Total Current		1,683,340		1,616,804			2,092,763
Deferred
Federal		240,234		(1,725,918	)		(50,603	)
State		22,015		(152,286	)		(4,465	)
Total Deferred		262,249		(1,878,204	)		(55,068	)
Total	$	1,945,589	$	(261,400	)	$	2,037,695

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2017			2016			2015
Statutory rate		34.0	%		34.0	%		34.0	%
State income taxes, net of federal benefit		3.6	%		0.8	%		2.8	%
Domestic production deduction		(1.1	%)		(3.0	%)		(1.6	%)
Work opportunity tax credits		(0.4	%)		-			-
Statutory rate change		-			(1.6	%)		-	%
Other		0.0	%		0.5	%		0.1	%
U-Swirl loss carryforward recognized		-			(1.8	%)		(3.0	%)
Valuation allowance, U-Swirl Consolidated loss		-			(36.3	%)		3.0	%
Effective rate – provision (benefit)		36.1	%		(7.4	%)		35.3	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred Tax Assets	201 7			201 6
Allowance for doubtful accounts and notes	$	198,354		$	248,537
Inventories		90,027			96,698
Accrued compensation		188,002			183,898
Loss provisions and deferred income		1,175,351			1,299,191
Self-insurance accrual		37,000			28,923
Amortization		782,683			861,594
Restructuring charges		148,494			148,494
U-Swirl accumulated net loss		164,035			346,605
Valuation allowance		(148,494	)		(148,494	)
Net deferred tax assets		2,635,452			3,065,446
Deferred Tax Liabilities
Depreciation and amortization		(1,683,778	)		(1,537,653	)
Prepaid expenses		(92,800	)		(106,138	)
D eferred tax liabilities	$	(1,776,578	)	$	(1,643,791	)
Net deferred tax assets	$	858,874		$	1,421,655

Summary of Valuation Allowance [Table Text Block]

	201 7		201 6
Valuation allowance at beginning of period	$	148,494	$	349,010
Tax expense (benefits) realized by valuation allowance		-		81,340
Tax benefits released from valuation allowance		-		(281,856	)
Valuation allowance at end of period	$	148,494	$	148,494