Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
CURRENT ASSETS:
Cash	$ 22,333,323	$ 11,667,161
Accounts receivable, net of allowances for bad debts and cash discounts of $68,415 at December 31, 2019 and $29,178 at March 31, 2019	9,845,626	13,183,411
Inventories	35,543,889	49,062,086
Other	1,568,674	543,549
TOTAL CURRENT ASSETS	69,291,512	74,456,207
PROPERTY, PLANT AND EQUIPMENT:
Land	1,452,799	1,452,799
Buildings and yard improvements	8,879,692	8,821,253
Machinery and equipment	39,746,407	38,176,497
Construction in progress	2,114,123
Less accumulated depreciation	(37,464,557)	(36,540,591)
Property, plant, and equipment, net	14,728,464	11,909,958
OTHER ASSETS:
Cash value of officers’ life insurance and other assets	169,187	235,817
Income taxes recoverable	40,639
TOTAL ASSETS	84,229,802	86,601,982
CURRENT LIABILITIES:
Accounts payable and accrued expenses	12,175,584	11,577,664
Income taxes payable		159,694
Dividends payable	139,989	279,978
Contribution to retirement plan	200,000	50,250
Employee compensation and related expenses	254,699	297,316
Current portion of financing lease	100,244
TOTAL CURRENT LIABILITIES	12,870,516	12,364,902
POSTRETIREMENT BENEFITS OTHER THAN PENSIONS	97,176	210,257
DEFERRED INCOME TAX LIABILITY	916,787	1,545,246
OTHER NON-CURRENT LIABILITIES	404,367
TOTAL LIABILITIES	14,288,846	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 December 31 and March 31, 2019, respectively	8,225,160	8,205,160
Additional paid-in capital	29,552,180	29,322,472
Treasury stock at cost (1,225,716 shares at December 31 and March 31, 2019)	(5,525,964)	(5,525,964)
Retained earnings	37,689,580	40,479,909
TOTAL STOCKHOLDERS’ EQUITY	69,940,956	72,481,577
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 84,229,802	$ 86,601,982