Note F - Supplemental Cash Flow Information

9 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Cash Flow, Supplemental Disclosures [Text Block]

NOTE F — SUPPLEMENTAL CASH FLOW INFORMATION

The Company paid income taxes of approximately

$13,500

and

$162,000

in the

nine

months ended

December

 

31,

2016

and

2015,

respectively. The Company paid no interest in the

nine

months ended

December

 

31,

2016

or

2015.

Non-cash financing activities consisted of accrued dividends of

$67,994

in both the

nine

month periods ended

December

 

31,

2016

and

2015,

respectively. The

nine

months ended

December

31,

2016

included a

$293,000

non-cash transaction to transfer the ownership of a life insurance policy from the Company to an officer upon retirement.