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Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($)
9 Months Ended
Dec. 31, 2015
Dec. 31, 2014
OPERATING ACTIVITIES    
Net earnings $ 817,775 $ 835,049
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:    
Depreciation 1,275,150 1,367,550
Provision for deferred taxes 106,734 (92,482)
Provision for postretirement benefits 64,515 57,624
Decrease (increase) in operating assets:    
Accounts receivable, net 2,096,891 4,307,687
Inventories (2,318,979) (15,531,519)
Other (85,682) (111,551)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 2,349,912 6,270,504
Contribution to retirement plan 129,000 137,500
Employee compensation and related expenses (51,105) (174,349)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 4,384,211 (2,933,987)
INVESTING ACTIVITIES    
Purchase of property, plant and equipment (1,897,132) (4,732,511)
Change in cash surrender value of officers’ life insurance (46,750) (45,750)
NET CASH USED IN INVESTING ACTIVITIES (1,943,882) (4,778,261)
FINANCING ACTIVITIES    
Cash dividends paid (203,982) (407,967)
NET CASH USED IN FINANCING ACTIVITIES (203,982) (407,967)
INCREASE (DECREASE) IN CASH 2,236,347 (8,120,215)
Cash at beginning of period 2,225,924 15,081,024
CASH AT END OF PERIOD $ 4,462,271 $ 6,960,809