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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2019
Jun. 30, 2018
OPERATING ACTIVITIES    
Net earnings $ 194,772 $ 3,599,893
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:    
Depreciation 304,781 357,596
Deferred taxes (16,039) 96,164
Compensation expense for restricted stock 83,236 72,240
Change in postretirement benefits 2,738 7,430
Decrease (increase) in operating assets:    
Accounts receivable (2,685,454) (789,499)
Inventories 5,305,040 (14,269,173)
Other assets, current and non-current (12,322) (106,821)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses (3,215,889) 9,391,535
Income taxes payable 65,157 862,259
Contribution to retirement plan 50,250 45,000
Employee compensation and related expenses (8,649) 313,262
Other non-current liabilities 26,425
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 94,046 (420,114)
INVESTING ACTIVITIES    
Purchase of property, plant and equipment (672,410) (187,223)
Increase in cash surrender value of officers’ life insurance (4,370) (6,275)
NET CASH USED IN INVESTING ACTIVITIES (676,780) (193,498)
FINANCING ACTIVITIES    
Cash dividends paid (279,978) (140,189)
NET CASH USED IN FINANCING ACTIVITIES (279,978) (140,189)
INCREASE (DECREASE) IN CASH (862,712) (753,801)
CASH AT BEGINNING OF PERIOD 11,667,161 4,052,582
CASH AT END OF PERIOD $ 10,804,449 $ 3,298,781