Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2019	Mar. 31, 2018
CURRENT ASSETS:
Cash	$ 19,371,200	$ 11,667,161
Accounts receivable, net of allowances for bad debts and cash discounts of $29,178 at September 30, 2019 and March 31, 2019	12,886,816	13,183,411
Inventories	36,092,963	49,062,086
Other	1,008,063	543,549
TOTAL CURRENT ASSETS	69,359,042	74,456,207
PROPERTY, PLANT AND EQUIPMENT:
Land	1,452,799	1,452,799
Buildings and yard improvements	8,863,150	8,821,253
Machinery and equipment	38,930,853	38,176,497
Less accumulated depreciation	(37,154,964)	(36,540,591)
Property, plant, and equipment, net	12,091,838	11,909,958
OTHER ASSETS:
Cash value of officers’ life insurance and other assets	172,188	235,817
Income taxes recoverable	304,527
TOTAL ASSETS	81,927,595	86,601,982
CURRENT LIABILITIES:
Accounts payable and accrued expenses	8,847,357	11,577,664
Income taxes payable		159,694
Dividends payable	139,989	279,978
Contribution to retirement plan	150,750	50,250
Employee compensation and related expenses	371,410	297,316
TOTAL CURRENT LIABILITIES	9,509,506	12,364,902
POSTRETIREMENT BENEFITS OTHER THAN PENSIONS	94,438	210,257
DEFERRED INCOME TAX LIABILITY	1,426,277	1,545,246
OTHER NON-CURRENT LIABILITIES	18,658
TOTAL LIABILITIES	11,048,879	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 September 30 and March 31, 2019, respectively	8,225,160	8,205,160
Additional paid-in capital	29,468,944	29,322,472
Treasury stock at cost (1,225,716 shares at September 30 and March 31, 2019)	(5,525,964)	(5,525,964)
Retained earnings	38,710,576	40,479,909
TOTAL STOCKHOLDERS’ EQUITY	70,878,716	72,481,577
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 81,927,595	$ 86,601,982