Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
CURRENT ASSETS:
Cash	$ 16,485,797	$ 17,057,751
Accounts receivable, net of allowances for bad debts and cash discounts of $82,417 at December 31, and March 31, 2020	12,133,375	11,705,344
Inventories	30,130,320	35,668,243
Other current assets	5,488,176	780,179
TOTAL CURRENT ASSETS	64,237,668	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	28,027,039	29,339,893
Construction in process	6,478,594	3,797,364
Less accumulated depreciation	(29,898,231)	(31,825,401)
Property, plant, and equipment, net	14,967,537	11,500,556
OTHER ASSETS:
Cash value of officers’ life insurance and other assets	164,016	183,350
Income taxes recoverable		448,665
TOTAL ASSETS	79,369,221	77,344,088
CURRENT LIABILITIES:
Accounts payable and accrued expenses	6,081,444	8,944,614
Dividends payable	139,485	139,989
Contribution to retirement plan	200,000	50,250
Employee compensation and related expenses	581,796	409,778
Income taxes payable	88,541
Current portion of financing lease	102,196	100,728
Current portion of Paycheck Protection Program loan	1,338,114
TOTAL CURRENT LIABILITIES	8,531,576	9,645,359
POSTRETIREMENT BENEFITS OTHER THAN PENSIONS	108,764	99,864
DEFERRED INCOME TAX LIABILITY	732,295	361,146
OTHER NON-CURRENT LIABILITIES	291,417	372,352
LONG TERM PORTION OF PAYCHECK PROTECTION PROGRAM LOAN	352,271
TOTAL LIABILITIES	10,016,323	10,478,721
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Common stock, par value $1: Authorized shares — 10,000,000 Issued shares — 8,334,785 shares and 8,295,160 shares at December 31, and March 31, 2020, respectively	8,334,785	8,295,160
Additional paid-in capital	29,852,154	29,565,416
Accumulated other comprehensive income	2,657,923
Treasury stock at cost (1,355,916 shares and 1,225,716 shares at December 31, and March 31, 2020, respectively)	(6,619,320)	(5,525,964)
Retained earnings	35,127,356	34,530,755
TOTAL STOCKHOLDERS’ EQUITY	69,352,898	66,865,367
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 79,369,221	$ 77,344,088