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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES    
Net earnings (loss) $ 24,489,411 $ (1,108,867)
Adjustments to reconcile net earnings (loss) to cash provided by (used in) operating activities:    
Depreciation 663,164 530,968
Deferred taxes (222,927) (217,443)
Compensation expense for restricted stock 247,741 221,627
Change in postretirement benefits 4,373 5,933
Lower of cost or net realizable value inventory adjustment 0 274,093
Gain recognized on open derivatives not designated for hedge accounting (1,551,840) 0
Deferred realized loss on derivatives (17,052,580) 0
Forgiveness of Paycheck Protection Program Loan (1,706,614) 0
Decrease (increase) in operating assets:    
Accounts receivable (11,955,641) 426,318
Inventories (31,721,525) 8,894,641
Federal income taxes recoverable 0 (109,230)
Other current assets (1,274,124) (1,075,916)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 11,801,806 (4,199,863)
Income taxes payable 1,876,441 0
Contribution to retirement plan 100,000 100,500
Employee compensation and related expenses 1,711,265 (26,484)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (24,591,050) 3,716,277
INVESTING ACTIVITIES    
Purchase of property, plant and equipment (2,905,751) (2,933,637)
Proceeds from sale of assets 160,542 0
Increase in cash surrender value of officers’ life insurance (5,791) (8,647)
NET CASH USED IN INVESTING ACTIVITIES (2,751,000) (2,942,284)
FINANCING ACTIVITIES    
Paycheck Protection Program loan proceeds 0 1,690,385
Cash dividends paid (275,981) (283,218)
Cash paid for principal portion of finance lease (51,097) (50,121)
Cash paid for share repurchases 0 (410,221)
Asset based lending facility proceeds 14,578,487 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 14,251,409 946,825
INCREASE (DECREASE) IN CASH AND RESTRICED CASH (13,090,641) 1,720,818
CASH AND RESTRICTED CASH AT BEGINNING OF PERIOD 20,192,486 17,057,751
CASH AND RESTRICTED CASH AT END OF PERIOD $ 7,101,845 $ 18,778,569