Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2017	Mar. 31, 2017
CURRENT ASSETS:
Cash	$ 2,123,803	$ 1,461,695
Accounts receivable, net of allowances for bad debts and cash discounts of $21,052 and $27,276 at December 31 and March 31, 2017	7,054,181	8,939,051
Inventories	46,399,435	34,918,550
Other	380,576	113,540
TOTAL CURRENT ASSETS	55,957,995	45,432,836
PROPERTY, PLANT AND EQUIPMENT:
Land	1,452,799	1,082,331
Buildings and yard improvements	8,682,405	7,111,735
Machinery and equipment	39,237,369	31,451,479
Construction in progress		9,451,972
Less accumulated depreciation	(34,920,492)	(33,924,353)
Property, plant, and equipment, net	14,452,081	15,173,164
OTHER ASSETS:
Deferred income tax asset	463,728	1,165,950
Federal income taxes recoverable	866,894	913,347
Cash value of officers’ life insurance and other assets	206,125	578,000
TOTAL ASSETS	71,946,823	63,263,297
CURRENT LIABILITIES:
Accounts payable and accrued expenses	6,575,457	2,003,661
Dividends payable	70,094	70,094
Contribution to retirement plan	162,000	42,000
Employee compensation and related expenses	252,381	240,835
Revolving line of credit	3,750,000
TOTAL CURRENT LIABILITIES	10,809,932	2,356,590
POSTRETIREMENT BENEFITS OTHER THAN PENSIONS	170,441	550,282
TOTAL LIABILITIES	10,980,373	2,906,872
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Common stock, par value $1: Authorized shares — 10,000,000; Issued shares — 8,185,160 at September 30 and March 31, 2017	8,185,160	8,185,160
Additional paid-in capital	29,082,634	28,865,914
Treasury stock at cost (1,175,716 shares at December 31 and March 31, 2017)	(5,475,964)	(5,475,964)
Retained earnings	29,174,620	28,781,315
TOTAL STOCKHOLDERS’ EQUITY	60,966,450	60,356,425
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 71,946,823	$ 63,263,297