Note K - Income Taxes

6 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Income Tax Disclosure [Text Block]

NOTE K — INCOME TAXES

For the

six

months ended

September 30, 2019,

the Company recorded an income tax benefit of

$413,493,

or

23.5%

of pre-tax loss, compared to an income tax provision of

$1,807,329,

or

24.4%

of pre-tax income, for the

six

months ended

September 30, 2018.

For both

six

month periods, the effective tax rate differed from the federal statutory rate due primarily to the inclusion of state tax expenses or benefits in the calculation.