Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2019	Mar. 31, 2019
CURRENT ASSETS:
Cash	$ 10,804,449	$ 11,667,161
Accounts receivable, net of allowances for bad debts and cash discounts of $29,178 at June 30 and March 31, 2019	15,868,865	13,183,411
Inventories	43,757,046	49,062,086
Other	499,700	543,549
TOTAL CURRENT ASSETS	70,930,060	74,456,207
PROPERTY, PLANT AND EQUIPMENT:
Land	1,452,799	1,452,799
Buildings and yard improvements	8,825,853	8,821,253
Machinery and equipment	38,844,307	38,176,497
Less accumulated depreciation	(36,845,372)	(36,540,591)
Property, plant, and equipment, net	12,277,587	11,909,958
OTHER ASSETS:
Cash value of officers’ life insurance and other assets	296,358	235,817
TOTAL ASSETS	83,504,005	86,601,982
CURRENT LIABILITIES:
Accounts payable and accrued expenses	8,361,775	11,577,664
Income taxes payable	224,851	159,694
Dividends payable	279,978	279,978
Contribution to retirement plan	100,500	50,250
Employee compensation and related expenses	288,667	297,316
TOTAL CURRENT LIABILITIES	9,255,771	12,364,902
POSTRETIREMENT BENEFITS OTHER THAN PENSIONS	212,995	210,257
DEFERRED INCOME TAX LIABILITY	1,529,207	1,545,246
OTHER NON-CURRENT LIABILITIES	26,425
TOTAL LIABILITIES	11,024,398	14,120,405
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Common stock, par value $1: Authorized shares — 10,000,000 Issued shares — 8,225,160 shares and 8,205,160 shares at June 30 and March 31, 2019, respectively	8,225,160	8,205,160
Additional paid-in capital	29,385,708	29,322,472
Treasury stock at cost (1,225,716 shares at June 30 and March 31, 2019)	(5,525,964)	(5,525,964)
Retained earnings	40,394,703	40,479,909
TOTAL STOCKHOLDERS’ EQUITY	72,479,607	72,481,577
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 83,504,005	$ 86,601,982