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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
May 31, 2022
May 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net earnings $ 215,800 $ 3,438,100
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation 599,600 432,000
Deferred income taxes 1,400 237,500
Provision for doubtful accounts (63,600) 37,600
Provision for inventory valuation allowance 0 60,000
Share-based compensation expense 261,600 261,600
Changes in assets and liabilities:    
Accounts receivable (140,500) (665,100)
Inventories - net 3,057,800 (4,928,000)
Prepaid expenses and other assets (31,400) (235,400)
Accounts payable (5,699,000) (577,400)
Accrued salaries and commissions and other liabilities (1,472,300) (3,617,000)
Deferred revenues 1,036,400 (288,000)
Income taxes payable 37,200 967,700
Total adjustments (2,412,800) (8,314,500)
Net cash used in operating activities (2,197,000) (4,876,400)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (108,800) (1,617,200)
Net cash used in investing activities (108,800) (1,617,200)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments on term debt (614,100) (142,300)
Proceeds from term debt 0 3,896,200
Sales of treasury stock 63,400 32,000
Net borrowings under line of credit 4,785,400 3,487,200
Dividends paid (870,700) (835,100)
Net cash provided by financing activities 3,364,000 6,438,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,058,200 (55,600)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 361,200 1,812,200
CASH AND CASH EQUIVALENTS - END OF PERIOD 1,419,400 1,756,600
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION    
Cash paid for interest 370,200 152,400
Cash paid for income taxes $ 52,300 $ 17,200