• Filing Date: 2019-07-15
  • Form Type: 10-Q
  • Description: Quarterly report
v3.19.2
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
May 31, 2019
May 31, 2018
Cash Flows From Operating Activities    
Net Income $ 711,609 $ 576,944
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 377,654 437,505
Provision for obsolete inventory 23,766 24,185
Provision for loss on accounts and notes receivable 81,283 23,400
Asset impairment and store closure losses 44,000
Loss on sale or disposal of property and equipment 2,867 17,056
Expense recorded for stock compensation 231,254 155,807
Deferred income taxes 38,028 (54,493)
Changes in operating assets and liabilities:    
Accounts receivable (100,089) 672,005
Refundable income taxes 185,667
Inventories 344,058 (916,261)
Contract Liabilities (90,248) (78,883)
Other current assets (122,047) (168,990)
Accounts payable 115,667 291,989
Accrued liabilities 28,640 349,987
Net cash provided by operating activities 1,828,109 1,374,251
Cash Flows from Investing Activities    
Proceeds received on notes receivable 28,400 33,698
Proceeds from (cost of) sale or distribution of assets 500
Purchases of property and equipment (283,548) (130,572)
(Increase) decrease in other assets 312 (5,366)
Net cash used in investing activities (254,836) (101,740)
Cash Flows from Financing Activities    
Payments on long-term debt (346,547) (333,955)
Dividends paid (715,179) (708,653)
Net cash used in financing activities (1,061,726) (1,042,608)
Net Increase in Cash and Cash Equivalents 511,547 229,903
Cash and Cash Equivalents, Beginning of Period 5,384,027 6,072,984
Cash and Cash Equivalents, End of Period $ 5,895,574 $ 6,302,887