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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2016
Mar. 31, 2015
OPERATING ACTIVITIES    
Net earnings $ 294,000 $ 382,330
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation 1,673,721 1,721,625
Deferred taxes (221,144) (377,356)
Change in post-retirement benefits other than pensions 78,712 76,832
Changes in operating assets and liabilities:    
Accounts receivable, net 2,073,800 2,451,103
Inventories (1,088,462) (5,562,107)
Other 1,199 (14,783)
Accounts payable and accrued expenses 328,144 (5,057,785)
Employee compensation and related expenses (106,005) 7,702
Contribution to retirement plan (7,500) (1,500)
Net cash provided by (used in) operating activities 3,026,465 (6,373,939)
INVESTING ACTIVITIES    
Purchase of property, plant and equipment (2,124,649) (5,876,205)
Increase in cash value of officers’ life insurance (59,000) (61,000)
Net cash used in investing activities (2,183,649) (5,937,205)
FINANCING ACTIVITIES    
Cash dividends paid (271,978) (543,956)
Net cash used in financing activities (271,978) (543,956)
Increase (decrease) in cash 570,838 (12,855,100)
Cash at beginning of year 2,225,924 15,081,024
Cash at end of year $ 2,796,762 $ 2,225,924