• Filing Date: 2018-07-13
  • Form Type: 10-Q
  • Description: Quarterly report
v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
May 31, 2018
May 31, 2017
Cash Flows From Operating Activities    
Net income $ 576,944 $ 813,672
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 437,505 320,550
Provision for loss on accounts and notes receivable 23,400 29,400
Provision for obsolete inventory 24,185 16,896
Asset impairment and store closure losses 44,000
Loss on sale of property and equipment 17,056 15,617
Expense recorded for stock based compensation 155,807 134,415
Deferred income 66,770
Contract liabilities (78,883)
Deferred income taxes (54,493) (100,640)
Changes in operating assets and liabilities:    
Accounts receivable 672,005 1,089,011
Inventories (916,261) (92,691)
Other current assets (168,990) (68,236)
Accounts payable 291,989 278,380
Accrued liabilities 349,987 406,164
Net cash provided by operating activities 1,374,251 2,909,308
Cash Flows From Investing Activities    
Proceeds received on notes receivable 33,698 66,196
Proceeds from (Costs of) sale or distribution of assets 500 (11,950)
Purchase of intangible assets (8,508)
Purchases of property and equipment (130,572) (76,726)
Other (5,366) 8,297
Net cash used in investing activities (101,740) (22,691)
Cash Flows From Financing Activities    
Payments on long-term debt (333,955) (321,831)
Dividends paid (708,653) (702,524)
Net cash used in financing activities (1,042,608) (1,024,355)
Net Increase in Cash and Cash Equivalents 229,903 1,862,262
Cash and Cash Equivalents, Beginning of Period 6,072,984 5,779,195
Cash and Cash Equivalents, End of Period $ 6,302,887 $ 7,641,457