XML 23 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Dec. 31, 2011
Dec. 31, 2010
OPERATING ACTIVITIES    
Net earnings $ 5,945,569 $ 4,953,062
Adjustments to reconcile net earnings to cash provided by operating activities:    
Depreciation 1,377,598 1,406,700
Provision for deferred taxes (68,025) (40,800)
Provision for postretirement benefits 57,147 71,185
Decrease (increase) in operating assets:    
Accounts receivable, net 341,565 1,515,637
Inventories 5,857,007 (7,123,023)
Other (91,880) (64,847)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 1,939,048 418,539
Contribution to profit-sharing plan 150,300 156,000
Employee compensation and related expenses (362,418) 130,943
Income taxes payable (350,961) 31,088
Deferred credit for LIFO inventory replacement 363,623  
NET CASH PROVIDED BY OPERATING ACTIVITIES 15,158,573 1,454,484
INVESTING ACTIVITIES    
Purchase of property, plant and equipment (309,270) (481,342)
Increase in cash surrender value of officers' life insurance (45,750) (42,000)
NET CASH USED IN INVESTING ACTIVITIES (355,020) (523,342)
FINANCING ACTIVITIES    
Cash dividends paid (2,515,794) (4,283,650)
Principal payments on notes payable   (13,507)
NET CASH USED IN FINANCING ACTIVITIES (2,515,794) (4,297,157)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 12,287,759 (3,366,015)
Cash and cash equivalents at beginning of period 7,210,290 19,812,881
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 19,498,049 $ 16,446,866