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CONDENSED BALANCE SHEETS (USD $)
Nov. 30, 2013
Feb. 28, 2013
CURRENT ASSETS:    
Cash and cash equivalents $ 461,300 $ 469,100
Accounts receivable, less allowance for doubtful accounts and sales returns of $574,100 (November 30) and $571,900 (February 28) 4,657,100 3,419,100
Inventories—Net 9,585,100 9,724,700
Prepaid expenses and other assets 253,200 438,800
Income tax receivable   229,300
Deferred income taxes 344,400 381,400
Total current assets 15,301,100 14,662,400
INVENTORIES—Net 400,200 559,000
PROPERTY, PLANT AND EQUIPMENT—Net 1,887,800 1,915,500
INVESTMENT IN NONMARKETABLE EQUITY SECURITIES 430,300 430,300
OTHER ASSETS 256,700 256,700
DEFERRED INCOME TAXES 61,200 76,900
TOTAL ASSETS 18,337,300 17,900,800
CURRENT LIABILITIES:    
Accounts payable 2,574,400 1,862,100
Line of credit, current portion 500,000 1,250,000
Accrued salaries and commissions 792,600 439,300
Income taxes payable 143,000  
Dividends payable 316,900 317,900
Other current liabilities 839,700 579,700
Total current liabilities 5,166,600 4,449,000
COMMITMENTS      
SHAREHOLDERS’ EQUITY:    
Common stock, $0.20 par value; Authorized 8,000,000 shares; Issued 6,041,040 (November 30 and February 28) shares; Outstanding 3,961,412 (November 30) and 3,960,812 (February 28) shares 1,208,200 1,208,200
Capital in excess of par value 8,548,000 8,548,000
Retained earnings 14,911,900 15,194,700
24,668,100 24,950,900
Less treasury stock, at cost (11,497,400) (11,499,100)
Total shareholders' equity 13,170,700 13,451,800
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 18,337,300 $ 17,900,800