Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2020	Mar. 31, 2020
CURRENT ASSETS:
Cash	$ 15,143,919	$ 17,057,751
Accounts receivable, net of allowances for bad debts and cash discounts of $82,417 at June 30 and March 31, 2020	10,470,089	11,705,344
Inventories	31,383,892	35,668,243
Other current assets	969,034	780,179
TOTAL CURRENT ASSETS	57,966,934	65,211,517
PROPERTY, PLANT AND EQUIPMENT:
Land	1,179,831	1,179,831
Buildings and yard improvements	9,180,304	9,008,869
Machinery and equipment	27,776,569	29,339,893
Construction in process	3,874,444	3,797,364
Less accumulated depreciation	(29,503,454)	(31,825,401)
Property, plant, and equipment, net	12,507,694	11,500,556
OTHER ASSETS:
Cash value of officers’ life insurance and other assets	176,125	183,350
Income taxes recoverable	597,366	448,665
TOTAL ASSETS	71,248,119	77,344,088
CURRENT LIABILITIES:
Accounts payable and accrued expenses	2,230,609	8,944,614
Dividends payable	141,609	139,989
Contribution to retirement plan	100,500	50,250
Employee compensation and related expenses	311,695	409,778
Current portion of financing lease	101,215	100,728
Current portion of Paycheck Protection Program loan	686,890
TOTAL CURRENT LIABILITIES	3,572,518	9,645,359
POSTRETIREMENT BENEFITS OTHER THAN PENSIONS	102,831	99,864
DEFERRED INCOME TAX LIABILITY	252,424	361,146
OTHER NON-CURRENT LIABILITIES	342,761	372,352
LONG TERM PORTION OF PAYCHECK PROTECTION PROGRAM LOAN	1,003,495
TOTAL LIABILITIES	5,274,029	10,478,721
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Common stock, par value $1: Authorized shares — 10,000,000 Issued shares — 8,306,160 shares and 8,295,160 shares at June 30 and March 31, 2020, respectively	8,306,160	8,295,160
Additional paid-in capital	29,665,230	29,565,416
Treasury stock at cost (1,225,716 shares at June 30 and March 31, 2020)	(5,525,964)	(5,525,964)
Retained earnings	33,528,664	34,530,755
TOTAL STOCKHOLDERS’ EQUITY	65,974,090	66,865,367
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 71,248,119	$ 77,344,088