Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2020	Mar. 31, 2020
CURRENT ASSETS:
Cash	$ 18,778,569	$ 17,057,751
Accounts receivable, net of allowances for bad debts and cash discounts of $82,417 at September 30, and March 31, 2020	11,279,027	11,705,344
Inventories	26,499,508	35,668,243
Other current assets	1,887,054	780,179
TOTAL CURRENT ASSETS	58,444,158	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	27,783,814	29,339,893
Construction in process	5,427,263	3,797,364
Less accumulated depreciation	(29,698,945)	(31,825,401)
Property, plant, and equipment, net	13,872,267	11,500,556
OTHER ASSETS:
Cash value of officers’ life insurance and other assets	173,825	183,350
Income taxes recoverable	557,895	448,665
TOTAL ASSETS	73,048,145	77,344,088
CURRENT LIABILITIES:
Accounts payable and accrued expenses	4,730,683	8,944,614
Dividends payable	143,181	139,989
Contribution to retirement plan	150,750	50,250
Employee compensation and related expenses	383,295	409,778
Current portion of financing lease	101,704	100,728
Current portion of Paycheck Protection Program loan	987,061
TOTAL CURRENT LIABILITIES	6,496,674	9,645,359
POSTRETIREMENT BENEFITS OTHER THAN PENSIONS	105,797	99,864
DEFERRED INCOME TAX LIABILITY	143,703	361,146
OTHER NON-CURRENT LIABILITIES	317,151	372,352
LONG TERM PORTION OF PAYCHECK PROTECTION PROGRAM LOAN	703,324
TOTAL LIABILITIES	7,766,649	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 September 30, and March 31, 2020, respectively	8,306,160	8,295,160
Additional paid-in capital	29,776,043	29,565,416
Treasury stock at cost (1,292,997 shares and 1,225,716 shares at September 30, and March 31, 2020, respectively)	(5,936,185)	(5,525,964)
Retained earnings	33,135,478	34,530,755
TOTAL STOCKHOLDERS’ EQUITY	65,281,496	66,865,367
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 73,048,145	$ 77,344,088