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Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
OPERATING ACTIVITIES    
Net earnings (loss) $ 170,620 $ (1,461,219)
Adjustments to reconcile net earnings (loss) to cash provided by (used in) operating activities:    
Depreciation 282,064 401,999
Deferred taxes 58,784 (41,156)
Compensation expense for restricted stock 72,240
Change in postretirement benefits 1,720 14,420
Decrease (increase) in operating assets:    
Accounts receivable 680,046 (2,525,312)
Inventories (4,497,191) 2,079,596
Federal income taxes recoverable (1,068,338)
Other current assets 96,747 118,106
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 5,745,306 704,630
Contribution to retirement plan 42,000 43,500
Employee compensation and related expenses 24,143 36,288
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 2,676,479 (1,697,486)
INVESTING ACTIVITIES    
Purchase of property, plant and equipment (159,465) (198,688)
Increase in cash surrender value of officers’ life insurance (4,375) (14,750)
NET CASH USED IN INVESTING ACTIVITIES (163,840) (213,438)
FINANCING ACTIVITIES    
Cash dividends paid (70,094) (67,994)
NET CASH USED IN FINANCING ACTIVITIES (70,094) (67,994)
INCREASE (DECREASE) IN CASH 2,442,545 (1,978,918)
Cash at beginning of period 1,461,695 2,796,762
CASH AT END OF PERIOD $ 3,904,240 $ 817,844