Note J - Stockholders' Equity

9 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE J — STOCKHOLDERS’ EQUITY

The following tables reflect the changes in stockholders’ equity for each quarterly period within the

nine

months ended

December 

31,

2019

and

December 31, 2018:

	Common Stock		Additional Paid-In Capital		Treasury Stock			Retained Earnings
BALANCE AT MARCH 31, 2019	$	8,205,160	$	29,322,472	$	(5,525,964	)	$	40,479,909
Net earnings		—		—		—			194,772
Issuance of restricted stock		20,000		—		—			—
Paid in capital – restricted stock awards		—		63,236		—			—
Cash dividends ($0.04 per share)		—		—		—			(279,978	)
BALANCE AT JUNE 30, 2019	$	8,225,160	$	29,385,708	$	(5,525,964	)	$	40,394,703
Net loss		—		—		—			(1,544,137	)
Paid in capital – restricted stock awards		—		83,236		—			—
Cash dividends ($0.02 per share)		—		—		—			(139,990	)
BALANCE AT SEPTEMBER 30, 2019	$	8,225,160	$	29,468,944	$	(5,525,964	)	$	38,710,576
Net loss		—		—		—			(881,003	)
Paid in capital – restricted stock awards		—		83,236		—			—
Cash dividends ($0.02 per share)		—		—		—			(139,993	)
BALANCE AT DECEMBER 31, 2019	$	8,225,160	$	29,552,180	$	(5,525,964	)	$	37,689,580

	Common Stock		Additional Paid-In Capital		Treasury Stock			Retained Earnings
BALANCE AT MARCH 31, 2018	$	8,185,160	$	29,154,874	$	(5,475,964	)	$	36,711,380
Net earnings		—		—		—			3,599,893
Paid in capital – restricted stock awards		—		72,240		—			—
Cash dividends ($0.03 per share)		—		—		—			(210,283	)
BALANCE AT JUNE 30, 2018	$	8,185,160	$	29,227,114	$	(5,475,964	)	$	40,100,990
Net earnings		—		—		—			2,000,916
Paid in capital – restricted stock awards		—		72,240		—			—
Cash dividends ($0.06 per share)		—		—		—			(420,567	)
BALANCE AT SEPTEMBER 30, 2018	$	8,185,160	$	29,299,354	$	(5,475,964	)	$	41,681,339
Net earnings		—		—		—			664,773
Paid in capital – restricted stock awards		—		72,240		—			—
Cash dividends ($0.06 per share)		—		—		—			(420,567	)
BALANCE AT DECEMBER 31, 2018	$	8,185,160	$	29,371,594	$	(5,475,964	)	$	41,925,545